Vaneck files to launch Staked Solana (Sol) ETF that is -backing Liquid Staking Token Jitosol
Asset Manager Vaneck filed to launch a staked Solana Funds exchanged by the exchange (ETF).
The application, submitted Friday as a S-1 register with the US Securities and Exchange Commission with (Sec)The first of two filings required to list the fund. If approved, the ETF will hold Jitosol, a liquid staking token native to the Solana blockchain. Jitosol reflects on the ownership of the solo to the staking rewards that those tokens have earned.
Unlike traditional ETFs, this product will not only monitor the price of SOL but also the revenue generated by staking – effectively cooking Solana’s yield in a publicly -exchanged product.
The SEC is in ongoing discussion with ETF providers, including Vaneck, about whether staking components can be combined with existing and suggested crypto investment funds.
Bottlenecks of Regulation
Speaking of an industry panel at the Jackson Hole earlier this week, SEC said Paul Atkins said the commission was looking to clear the regulation bottlenecks of slow change.
“There is a lot of spring cleaning that needs to be done with the SEC,” he said. “We cannot have things that do not abstain that lawyers cannot give opinions to clients.”
Atkins said the agency’s future policies should be flexible and designed to change. He added that the SEC wants to continue its legacy of adapting new technologies, indicating a more open bearing towards crypto asset products such as liquid staking ETFs.
Vaneck joined a number of ownership managers looking to launch a staked Solana fund, including Fidelity, Grayscale and Franklin Templeton.
