VanEck has filed an S-1 ETF application with the US Securities and Exchange Commission (SEC) for a fund based on the liquid staking token JitoSOL - a first that could bring Solana staking yields into a regulated investment product. At the same time, this move tests the SEC’s evolving regulatory stance toward staking.
The global asset manager VanEck submitted a registration filing with the SEC for the “VanEck JitoSOL ETF.” The planned fund is designed to hold exclusively the liquid staking token JitoSOL, which represents Solana tokens that are staked with validators while remaining tradable and yield-bearing (liquid staking). For the first time, a regulated investment product could give US investors access to Solana’s staking rewards.
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Liquid staking in focus
VanEck is expanding its digital assets offering, having already launched spot Bitcoin and Ether ETFs. The JitoSOL ETF would be the first of its kind in the US, fully backed by a liquid staking token.
JitoSOL enables SOL tokens to be staked with validators - generating ongoing yields - while simultaneously receiving a tradable token. The new fund would allow institutional and retail investors to participate in staking income without the need to directly use wallets or exchanges.
SEC gives green light for liquid staking
In 2025, the SEC issued important guidance. In May, the agency stated that protocol staking (solo or delegated) generally does not constitute a securities transaction. In August, this view was extended to liquid staking - provided no third party exercises significant control. While these statements came from SEC staff and are not legally binding, they establish a pragmatic framework for ETFs with staking exposure. Jito Labs and the Jito Foundation supported VanEck’s application and jointly submitted a letter to the SEC on July 31, backed by other industry participants such as Bitwise, Multicoin Capital, and the Solana Policy Institute.
The filing of the JitoSOL ETF could not only open new investor segments for VanEck but also strengthen Solana’s position in the global crypto ecosystem. While Bitcoin and Ethereum have already gained institutional acceptance through spot ETFs, Solana could step further into the spotlight with a liquid staking ETF as the third major protocol. Analysts expect decisions on additional digital asset ETFs by the end of September.
