VanEck Files For First JitoSOL ETF, Expanding Solana's Presence In US Crypto Markets

Murtuza J Merchant

August 22, 2025

Global asset manager VanEck has filed for approval of a JitoSOL exchange-traded fund (ETF), marking the first attempt to bring a liquid staking token (LST) tied to Solana (CRYPTO: SOL) into U.S. regulated markets.

The registration, submitted to the Securities and Exchange Commission (SEC) on Friday, outlines the proposed VanEck JitoSOL ETF, which will track the price of JitoSOL, a tokenized version of staked SOL.

JitoSOL enables investors to earn on-chain rewards while retaining liquidity to trade or deploy assets across decentralized finance (DeFi).

The Jito Foundation described the fund as "the first spot Solana ETF 100% backed by a liquid staking token," emphasizing its role in bridging institutional capital with blockchain infrastructure.

Liquid staking has gained momentum as a solution that allows investors to unlock value from staked assets, offering flexibility that traditional staking does not.

The filing follows months of engagement between Jito representatives and the SEC's Crypto Task Force.

Jito Labs CEO Lucas Bruder and Chief Legal Officer Rebecca Rettig have previously outlined how staking and restaking could be structured within ETFs.

Also Read: Bitcoin Will ‘Come Back Alive Again’ In September, Says Anthony Pompliano: ‘$113,000 Is Pretty Oversold’

Their discussions aligned with the SEC's updated guidance earlier this year, which clarified that proof-of-stake activity and certain liquid staking practices are not considered securities transactions.

"With staff guidance now on record, the compliance runway for LST-based ETFs is clear," the Jito Foundation said, noting that a regulated ETF structure represents a significant step in broadening access to Solana's ecosystem.

VanEck's proposal arrives just weeks after REX-Osprey launched a Solana staking ETF, which incorporates staking rewards through JitoSOL.

The SEC, under the Trump administration, has taken a more open approach toward digital asset products, recently allowing in-kind creations and redemptions for crypto ETFs.

The regulator is now reviewing a wave of applications, including spot Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) ETFs, along with options tied to those products.

The effort builds on a trend that began under the Biden administration, which saw the approval of spot Bitcoin and Ethereum ETFs following a landmark Grayscale court ruling.

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