SEC approval sought for JitoSOL Solana-based liquid staking token ETF

Written by Nate Kostar , Staff Writer Reviewed by Robert Lakin , Staff Editor SEC approval sought for JitoSOL Solana-based liquid staking token ETF 1 hour ago The proposal would allow a US exchange to trade shares of a fund holding JitoSOL, representing the first SEC exchange filing for a liquid staking token ETP. Listen 0:00 News Cointelegraph in your social feed Subscribe on Follow our Nasdaq has filed a proposed rule change to list the VanEck JitoSOL ETF, a fund designed to hold the Solana-based liquid staking token JitoSOL. Liquid staking allows users to stake tokens to help secure a proof-of-stake network while receiving a transferable token in return that represents the staked assets and accrued rewards. Jito Foundation president Brian Smith told Cointelegraph that if the fund is approved, staking rewards would not be distributed separately but instead reflected in the fund’s net asset value. Because JitoSOL automatically compounds rewards, each token held by the trust would represent the underlying deposited SOL along with any staking yield accrued on the Solana network. The exchange submitted the proposal under Nasdaq Rule 5711(d), which governs commodity-based trust shares, seeking approval to list and trade shares of a trust that would hold JitoSOL directly. Created by the Jito Network, JitoSOL ( JTO ) is a liquid staking token backed by SOL deposited into a staking pool on the Solana network. It lets holders earn staking rewards through a transferable token without directly running validators or managing onchain staking.