Solana Liquid Staking Token ETF Filed With SEC by Nasdaq

JitoSOL is issued by the Jito Network and is backed by Solana deposited into a staking pool.

Solana News

Nasdaq has submitted a proposed rule change to the SEC seeking approval to list and trade shares of the VanEck JitoSOL ETF, a fund that would hold JitoSOL, a liquid staking token built on the Solana network.

JitoSOL is issued by the Jito Network and is backed by Solana deposited into a staking pool. It allows holders to earn staking rewards through a transferable token without running validators or managing on-chain staking directly.

The filing was submitted under Nasdaq Rule 5711(d), which covers commodity-based trust shares. It argues the proposal meets the SEC's fraud, manipulation, and surveillance standards, citing the agency's prior approvals of spot Bitcoin and spot Ethereum ETPs as precedent.

If approved,

rewards would not be distributed to shareholders separately. Instead, they would compound automatically within each JitoSOL token and be reflected in the fund's net asset value, Jito Foundation president Brian Smith said.

The trust would price its shares using the MarketVector JitoSol VWAP Close Index, calculated from data contributed by multiple trading platforms. Both cash and in-kind creations and redemptions would be permitted under the structure.