VanEck Files for First-Ever JitoSOL ETF Following SEC Guidance on Liquid Staking
Global asset manager VanEck has officially filed for a JitoSOL ETF with the U.S. Securities and Exchange Commission (SEC), a groundbreaking move that could introduce the first exchange-traded fund backed by a liquid staking token (LST). The filing comes shortly after the SEC clarified that liquid staking activities are not classified as securities, boosting the chances of approval.
According to the registration statement, the VanEck JitoSOL ETF will primarily hold JitoSOL, the liquid staking token issued when Solana is staked through the Jito protocol. The fund will provide investors with spot exposure to JitoSOL while also earning staking rewards. This structure allows VanEck to acquire Solana, stake it via Jito, and receive JitoSOL tokens, which can then be used for yield generation and other DeFi purposes.
The ETF filing is expected to be followed by a 19b-4 form from a stock exchange to list and trade the shares, officially triggering the SEC’s review process. Approval would mark a major milestone, as it enables institutional investors to access staking rewards through a regulated investment vehicle.
Market reaction has been positive. TradingView data shows JitoSOL trading around $236, up over 6% in the last 24 hours. 
Brian Smith, lead at the Jito Foundation, emphasized the importance of this development, noting that liquid staking ETFs solve the liquidity challenges of staked Solana ETFs, which often need to keep 25% of assets unbonded to handle redemptions. A 100% LST-backed ETF, like VanEck’s proposal, allows issuers to fully stake assets while maintaining efficient redemption mechanisms.
