Liquid staking under the lens after Nasdaq files JitoSOL ETF rule change – Details
Nasdaq has filed with the SEC to list the Vaneck JitoSOL ETF, which would be the first Solana spot ETF fully backed by a liquid staking token (LST). The fund aims to track the price of JitoSOL, a tradable asset users receive for staking SOL, allowing them to earn rewards without managing validators.
The filing argues that JitoSOL is economically comparable to SOL, citing extremely high hourly price correlations (over 0.997) on major exchanges. This suggests the ETF introduces no new pricing risks beyond existing Solana ETFs. The SEC has 45 to 90 days to review the proposal. If approved, staking rewards would be reflected in the fund’s net asset value rather than distributed separately.
This is the first U.S. filing for an LST-backed fund, though other products offering combined spot and staking exposure, like the REX-Osprey Solana ETF, already trade.
ambcrypto02/27 17:02
