TechFlow news, August 22 — According to the Jito Foundation, VanEck has filed an S-1 application with the U.S. Securities and Exchange Commission (SEC) to launch the VanEck JitoSOL ETF, the first spot Solana ETF product fully backed by liquid staking tokens (LSTs).
The ETF will use JitoSOL tokens from the Jito Network as its underlying asset. Prior to the filing, stakeholders engaged in multiple rounds of discussions with regulators, including:
- February to March 2025: Meetings with the SEC and publication of a securities classification analysis for JitoSOL
- May to August 2025: The SEC issued policy statements on protocol staking and liquid staking activities
According to the SEC's 2025 guidance, under specific structures, liquid staking tokens are considered technical instruments rather than securities. This type of ETF product offers investors advantages such as daily subscription and redemption capabilities, a clear regulatory framework, staking yields, and contributions to network security.
