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The proposal would allow a US exchange to trade shares of a fund holding JitoSOL, representing the first SEC exchange filing for a liquid staking token ETP.Nasdaq has filed a proposed rule change to list the VanEck JitoSOL ETF, a fund designed to hold the Solana-based liquid staking token JitoSOL.
Liquid staking allows users to stake tokens to help secure a proof-of-stake network while receiving a transferable token in return that represents the staked assets and accrued rewards. Jito Foundation president Brian Smith told Cointelegraph that if the fund is approved, staking rewards would not be distributed separately but instead reflected in the fund’s net asset value. Because JitoSOL automatically compounds rewards, each token held by the trust would represent the underlying deposited SOL along with any staking yield accrued on the Solana network. The exchange submitted the proposal under Nasdaq Rule 5711, which governs commodity-based trust shares, seeking approval to list and trade shares of a trust that would hold JitoSOL directly.) is a liquid staking token backed by SOL deposited into a staking pool on the Solana network. It lets holders earn staking rewards through a transferable token without directly running validators or managing onchain staking.) ETP approval orders, arguing the proposal satisfies fraud, manipulation and surveillance standards and can be approved through “other means” despite the absence of a regulated futures market for JitoSOL. According to the proposal, the trust would value its shares using the MarketVector JitoSol VWAP Close Index, which is calculated from pricing data contributed by multiple trading platforms, and the trust would permit both cash and in-kind creations and redemptions.), citing correlation data, and says an appropriately structured liquid staking token can be treated as analogous to the underlying asset for purposes of the Under the SEC’s review process, the agency has 45 days from Federal Register publication to approve or disapprove the proposal, which can be extended to 90 days.While the VanEck JitoSOL ETF has reached the SEC’s exchange review stage, no liquid staking token ETF of this type is currently trading in the United States. There are, however, existing funds that provide regulated exposure to staking economics.direct staking exposure was the REX-Osprey Solana + Staking ETF , which began trading on July 2, and combines spot Solana price exposure with onchain staking rewards distributed to shareholders.exposure to the Grayscale Ethereum Mini Trust ETF and Grayscale Ethereum Trust ETF . The company also enabled staking for the Grayscale Solana Trust , which is seeking regulatory approval to uplist as an ETP. While the SEC’s Division of Corporation Finance said in May that certain protocol staking activities generally do not involve the offer or sale of securities under federal law, and in August issued similar staffJito’s total value locked stands at around $1.1 billion, after peaking above $3.0 billion in 2025 before retracing into early 2026, according to DefiLlama data.Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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