VanEck files for JitoSOL ETF, opening pathway to Solana staking rewards

VanEck has submitted an S‑1 registration statement with the U.S. Securities and Exchange Commission to create the VanEck JitoSOL ETF, a fund designed to hold JitoSOL — the liquid staking token issued by the Jito ecosystem. The filing, dated August 22, 2025, indicates the trust’s sole digital‑asset holding will be JitoSOL and that the fund will value shares daily based on an indexed JitoSOL price methodology.

JitoSOL is a liquid staking token that represents Solana (SOL) that has been allocated to validators while remaining transferable and able to accrue staking rewards on behalf of holders. Holders can trade JitoSOL on secondary markets or redeem it for underlying SOL on‑chain, subject to unstaking delays; the Jito protocol’s documentation and the VanEck prospectus both describe how the token functions and how rewards and fees are applied.

Market observers and issuers have framed the filing as a first-of-its-kind attempt in the U.S. to offer an exchange‑traded product backed exclusively by a liquid staking token, potentially giving regulated investors exposure to Solana staking yields through an ETF structure. Industry coverage notes the submission follows months of dialogue between Jito stakeholders and asset managers advocating for the inclusion of liquid staking tokens in exchange‑traded products.

The VanEck filing also places the product in the context of evolving SEC staff guidance on staking. The prospectus references recent SEC statements that protocol-determined staking rewards and certain liquid staking arrangements can fall outside the securities laws, while acknowledging that staff statements are not binding and regulatory or judicial interpretations could change. The filing cautions investors about the volatility and regulatory uncertainties that may affect JitoSOL and any fund that holds it.