Nasdaq has formally asked the US Securities and Exchange Commission to approve a new exchange-traded fund that would hold JitoSOL, a liquid staking token built on the Solana blockchain. If cleared, the product would mark the first US-listed ETF designed specifically around a liquid staking token rather than a spot cryptocurrency alone.
What Is the VanEck JitoSOL ETF?
The proposed fund, known as the VanEck JitoSOL ETF, would directly hold JitoSOL tokens created by the Jito Network. JitoSOL represents SOL deposited into a staking pool on Solana, allowing holders to earn staking rewards without operating validators. Instead of distributing rewards as separate payments, any staking yield would be reflected in the fund’s net asset value because JitoSOL automatically compounds rewards.
Nasdaq filed the application under Rule 5711(d), which governs commodity-based trust shares. The trust would use the MarketVector JitoSol VWAP Close Index to determine daily pricing and would allow both cash and in-kind share creations and redemptions.
SEC Timeline and Market Context
The SEC has up to 45 days after publication in the Federal Register to approve or reject the filing, with the option to extend the review period to 90 days. The proposal references prior approvals of spot Bitcoin and Ether exchange-traded products to argue that surveillance and market integrity standards can be met.
Although several US funds already provide exposure to staking economics, no liquid staking token ETF is currently trading domestically. Jito’s total value locked stands near $1.1 billion, down from a peak above $3 billion in 2025, underscoring both growth and volatility in the sector.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.