TechFlow news, October 21 — Asset management firm VanEck announced that its Solana exchange-traded note (ETN) launched in the European market has successfully enabled staking functionality. The ETN, with an asset under management (AUM) of $73 million and ticker symbol VSOL, employs a fully non-custodial staking approach, meaning the custodian of the ETN assets retains full control over the staked assets at all times, effectively mitigating lending risks.
According to VanEck’s official statement, investors in the Solana ETN do not need to take any active steps to participate in staking. Staking rewards are automatically credited into the ETN’s token equity and reflected in the daily net asset value (NAV). Regardless of when investors purchase the ETN, the total staking rewards generated during the most recent period will be distributed equally among all holders, subject to a 25% staking fee deduction.
VanEck instructs the custodian to delegate the physically held SOL tokens owned by the ETN to validator nodes for staking. These validator nodes are owned and operated by professional staking service providers; however, the delegated SOL tokens remain under the custodian’s control at all times and never leave the custodian’s cold storage. Once successfully delegated to a validator node, the node receives inflation rewards, MEV (Maximal Extractable Value) rewards, and block rewards on a per-epoch basis.
