VanEck Seeks SEC Approval for First US ETF Backed by Solana’s JitoSOL Token

Asset management giant VanEck has formally applied to the U.S. Securities and Exchange Commission (SEC) to list the country’s first exchange-traded fund (ETF) centred on JitoSOL, a liquid staking token built on the Solana blockchain. The filing, made today via Form S-1, signals a fresh attempt to bridge institutional investment with Solana’s fast-growing staking ecosystem.

JitoSOL represents staked SOL, Solana’s native currency, but with a twist: it allows holders to keep earning staking rewards while simultaneously trading or using their tokens. This liquid staking design offers flexibility that traditional staking cannot, as locked tokens typically remain inaccessible until a set period ends. By tracking the price of JitoSOL, the proposed VanEck ETF would give investors a way to gain exposure to Solana’s staking market through conventional brokerage accounts without having to manage private keys or interact directly with crypto exchanges.

The Jito Foundation welcomed the move, calling the ETF “a significant milestone in institutional access to blockchain infrastructure.” In a blog post, the foundation emphasised that wrapping JitoSOL in a regulated investment product could accelerate adoption among larger investors.

VanEck’s filing arrives as U.S. regulators refine their stance on proof-of-stake networks and liquid staking. Earlier this year, the SEC clarified that staking in itself is not considered a security, and certain liquid staking models also fall outside securities classification. This evolving clarity has emboldened firms like Jito Labs, which has been holding talks with the SEC’s Crypto Task Force to outline how staking and restaking can operate in compliance with U.S. securities law.

The timing is also noteworthy. Just recently, REX Osprey introduced a Solana staking ETF that incorporated JitoSOL for yield generation. With the SEC reviewing multiple digital asset ETFs under the Trump administration’s friendlier posture toward crypto, VanEck’s proposal could emerge as the first U.S. product fully tethered to a liquid staking token.

If approved, the ETF would not only expand Solana’s presence in mainstream finance but also mark a turning point for liquid staking tokens (LSTs), which are increasingly seen as essential infrastructure in decentralised finance.