VanEck Files for JitoSOL ETF to Provide LST Exposure

VanEck filed for a JitoSOL ETF, marking a potential first in liquid staking token-based funds.

The fund will stake Solana via Jito, earning JitoSOL and staking rewards while maintaining liquidity.

JitoSOL price rose over 6% after the ETF filing, signaling positive investor response to VanEck’s strategic move.

VanEck has submitted an S-1 registration statement with the U.S. Securities and Exchange Commission for a new exchange-traded fund centered around JitoSOL. The fund would primarily hold JitoSOL, a liquid staking token tied to Solana. This filing marks a notable step in introducing an institutional product based on liquid staking mechanisms.

The ETF plans to acquire Solana and stake it through the Jito protocol. In return, it will receive JitoSOL tokens, representing staked Solana with added liquidity. Through this process, VanEck expects to earn staking rewards. These tokens can also be used for other decentralized finance purposes, increasing the flexibility of the fund’s holdings.

SEC Guidance Supports Filing Path

The SEC previously stated that liquid staking tokens do not qualify as securities. This clarification has opened the door for filings like VanEck’s. The fund is designed to offer direct exposure to JitoSOL without regulatory ambiguity, following recent compliance improvements within staking structures.

After the S-1 registration, a stock exchange is expected to submit a 19b-4 filing. This step will initiate the formal review process for listing and trading shares of the ETF. The SEC will then be required to decide on the proposed rule change during the evaluation period.

Price Reacts to Filing Announcement

JitoSOL’s price has responded positively to the filing news. TradingView data shows a gain of over 6 percent within 24 hours, bringing its current price to approximately $236. The price movement reflects market confidence in institutional adoption of liquid staking assets.

Jito Foundation’s lead, Brian Smith, noted that traditional Solana ETFs face challenges due to staking unbonding periods. These issues often force funds to hold a portion of assets in liquid form. A JitoSOL-based ETF bypasses this constraint by allowing full staking while maintaining liquidity, thereby meeting daily ETF operations more effectively.

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