Nasdaq Files to List VanEck JitoSOL ETF Tied to Solana Liquid Staking
Nasdaq proposed listing the VanEck JitoSOL ETF, offering exposure to Solana's liquid staking token and its rewards.Summary
Nasdaq has filed a proposed rule change with the SEC to list the VanEck JitoSOL ETF, a fund that will directly hold the Solana-based liquid staking token JitoSOL. Liquid staking allows users to earn rewards on staked tokens while maintaining liquidity. The fund's value will reflect the underlying SOL and accrued staking yields, with rewards automatically compounded. VanEck argues the ETF meets SEC standards based on prior approvals of Bitcoin and Ether ETPs, despite the lack of a regulated futures market for JitoSOL. The ETF will use the MarketVector JitoSol VWAP Close Index for valuation and permit both cash and in-kind creations/redemptions. Similar products, like the REX-Osprey Solana + Staking ETF (SSK) and Grayscale’s staking ETFs, already exist, offering staking exposure, but this would be the first liquid staking token ETF of its kind in the US. The SEC has 45-90 days to review the proposal.
(Source：Cointelegraph)