SEC approval sought for JitoSOL Solana-based Liquid Staking Token ETF

Nasdaq has submitted proposed rule adjustments to listing the VanEck JitoSOL ETF, a fund designed to carry the Solana-based liquid staking token JitoSOL.

Liquid Staking permits customers to stake tokens to make sure the safety of a proof-of-stake community and in return obtain transferable tokens representing staked property and accrued rewards.

Jito Basis Chairman Brian Smith informed Cointelegraph that if the fund is authorised, staking charges shall be mirrored within the fund's web asset worth somewhat than being distributed individually.

JitoSOL robotically compounds rewards, so every token held by the belief represents an underlying deposit. $SOL It additionally consists of staking yields generated on the Solana community.

The alternate submitted a proposal underneath Nasdaq Rule 5711(d) governing commodity-based belief shares, searching for approval to listing and commerce the belief shares that instantly maintain JitoSOL.

JitoSOL (JTO), created by Jito Community, $SOL It’s deposited in a staking pool on the Solana community. This permits holders to earn staking rewards by transferable tokens with out instantly operating a validator or managing on-chain staking.

The submitting additionally mentions the SEC's earlier Spot Bitcoin (BTC) and Spot Ether ($ETH) The ETP approval order claims that the proposal meets the requirements of fraud, manipulation, and surveillance and will be authorised by “different means” regardless of the dearth of a regulated futures marketplace for JitoSOL.

In line with the proposal, the belief would worth shares utilizing the MarketVector JitoSol VWAP Shut Index, which is calculated from value information supplied by a number of buying and selling platforms, and would permit for each money and in-kind creation and redemption.

The submitting additionally claims that JitoSOL is economically equal. $SOL ($SOL) cites correlation information and says that correctly structured liquid staking tokens will be handled as just like the underlying asset for functions of the overall itemizing requirements authorised by the SEC in September.

The SEC's evaluation course of requires the SEC to approve or disapprove proposals inside 45 days of publication within the Federal Register, though this era could also be prolonged to 90 days.

Associated: Ethereum Basis launches staking $ETH Amid ongoing considerations about buyer variety

Staking publicity exists, however no liquidity staking ETFs

Though the VanEck JitoSOL ETF has reached the SEC's alternate evaluation stage, one of these liquidity staking token ETF will not be presently traded in america. Nevertheless, there are current funds that supply regulated publicity to staking economics.

One of many earliest US ETFs to supply direct staking publicity was the REX-Osprey Solana + Saking ETF (SSK), which started buying and selling on July 2nd and combines spot Solana value publicity with on-chain staking rewards distributed to shareholders.

In September, the corporate launched REX-Osprey. $ETH + Staking ETF (ESK). It provides spot ether publicity with month-to-month funds linked to staking yield.

A few month later, Grayscale expanded staking throughout its publicly traded lineup, including staking publicity to the Grayscale Ethereum Mini Belief ETF and the Grayscale Ethereum Belief ETF (ETHE). The corporate has additionally enabled staking for Grayscale Solana Belief (GSOL), which is searching for regulatory approval to listing as an ETP.

The SEC's Division of Company Finance said in Could that sure protocol staking actions usually don’t embrace the providing or sale of securities underneath federal regulation, and issued comparable employees steerage concerning liquid staking and staking receipt tokens in August, however this assertion will not be a proper rulemaking and doesn’t robotically approve any specific product.

In Europe, 21Shares launched the Jito-backed Solana exchange-traded product in January to supply exchange-traded publicity. $SOL Staking is constructed into the construction.

In line with DefiLlama information, Jito's Complete Locked Worth (TVL) is round $1.1 billion, peaking at over $3 billion in 2025 earlier than reversing in early 2026.