Solana News Today: VanEck Seeks to Bring Blockchain Yields to Mainstream Investing via JitoSOL ETF

VanEck has submitted an S-1 filing with the U.S. Securities and Exchange Commission (SEC) to launch the first U.S. exchange-traded fund (ETF) backed by a liquid staking token, JitoSOL, signaling continued interest in integrating blockchain-native yield-bearing assets into traditional investment vehicles. The proposed fund would hold JitoSOL, a liquid staking token representing staked Solana (SOL) and its accumulated rewards. This move could test the SEC’s evolving stance on staking activities within ETPs. VanEck’s filing is part of an ongoing regulatory dialogue with the agency, aiming to determine whether staking components can be included in crypto investment products without running afoul of securities laws.

The SEC has been in discussions with ETF providers and industry stakeholders to address regulatory uncertainties surrounding staking. In August 2025, the agency provided clarity stating that liquid staking tokens like JitoSOL, when structured without centralized control, do not constitute investment contracts. This guidance aligns with earlier statements from SEC staff in May 2025, which indicated that protocol staking and liquid staking generally fall outside the scope of securities laws. The agency’s recent focus has been on streamlining its regulatory approach to accommodate innovation while maintaining investor protections.

VanEck is not the first to pursue a staked Solana ETF. Fidelity, Grayscale, and Franklin Templeton have also expressed interest in launching similar products. These efforts are supported by industry participants, including Jito Labs and the Solana Foundation, which have engaged in policy outreach with regulators to clarify the legal and operational parameters for staking in ETPs. Jito Labs’ legal counsel, Rebecca Rettig, has previously published analyses arguing that JitoSOL functions as decentralized infrastructure and not as a security. Such efforts aim to demonstrate compliance with existing rules and support the broader adoption of blockchain-based yield mechanisms in institutional investing.

The proposed VanEck JitoSOL ETF offers several advantages for investors, including liquidity and regulatory clarity. Unlike traditional ETFs that track the price of an underlying asset, this product would also include the yield generated by staking. By holding JitoSOL, the ETF would allow daily creation and redemption of shares while continuously accruing staking rewards. This structure could provide investors with exposure to Solana’s staking yield without the complexities associated with managing staked assets directly. Additionally, by decentralizing stake across validators, JitoSOL aligns with the security objectives of proof-of-stake (PoS) networks, contributing to the broader health of the Solana ecosystem.

The S-1 filing initiates a formal review process with the SEC, following which the ETF may be listed for trading. This development comes amid broader shifts in the SEC’s approach to cryptocurrency products, particularly in the wake of the approval of spot Ether ETFs in May 2024. While those ETFs were required to remove all references to staking before receiving approval, the VanEck JitoSOL ETF could set a precedent for integrating yield-generating mechanisms into ETPs. The agency’s evolving stance, combined with industry-led efforts to clarify the regulatory implications of staking, may pave the way for a new class of investment products that bridge traditional finance and blockchain-based infrastructure.

Source: [1] JitoSOL ETF News: VanEck Files to Launch Staked Solana (https://www.coindesk.com/markets/2025/08/22/vaneck-aims-to-take-solana-s-liquid-staking-to-tradfi-investors-via-jitosol-etf) [2] Announcing the S-1 Filing for the VanEck JitoSOL ETF (https://www.jito.network/blog/announcing-the-s-1-filing-for-the-vaneck-jitosol-etf) [3] VanEck files first US liquid staking ETF with JitoSOL (https://cointelegraph.com/news/vaneck-jitosol-etf-submission-sec)