VanEck Submits First Spot Solana ETF Application Based on JitoSOL

According to Jito Foundation, VanEck has submitted an S-1 application to launch the first spot Solana ETF fully backed by the liquid staking token (LST) JitoSOL—VanEck JitoSOL ETF. In 2025, the SEC explicitly stated that protocol staking and liquid staking under specific structures do not involve securities transactions, paving a compliance path for the application of LSTs in ETFs. This ETF will provide investors with liquidity, tax and regulatory clarity, as well as economic advantages through staking rewards to offset costs. Meanwhile, JitoSOL enhances Solana network security through decentralized staking, indirectly contributing to network health for investors. The application for the VanEck JitoSOL ETF marks an important step in connecting blockchain infrastructure with institutional investors and is currently under review.