Nasdaq Files to List VanEck JitoSOL Staking ETF

Key Insights

• Nasdaq filed to list VanEck JitoSOL ETF.
• Fund would hold JitoSOL directly and compound yield.
• SEC review clock began after Federal Register publication.

Nasdaq filed a proposed rule change to list the VanEck JitoSOL ETF in the United States. The exchange submitted the application under Rule 5711(d), which governs commodity-based trust shares. The filing sought approval to list a trust that would hold JitoSOL directly, bringing liquid staking exposure into a regulated exchange-traded structure.

The VanEck JitoSOL ETF entered the Securities and Exchange Commission review pipeline at a time when staking products drew growing institutional attention. While spot Bitcoin and spot Ether exchange-traded products secured approval earlier, no U.S.-listed fund tracked a liquid staking token. The proposal tested whether a staked derivative of Solana could meet surveillance and manipulation standards without a regulated futures market.

Immediate Market And Product Context

Nasdaq’s rule filing argued that JitoSOL met the requirements for commodity-based trust shares despite lacking a dedicated futures market. The exchange cited prior approval orders for spot Bitcoin and spot Ether products to support its reasoning. It claimed the structure satisfied fraud and surveillance standards through other means, referencing established pricing benchmarks and market oversight tools.

Source: Nasdaq.com

The proposal stated that the trust would value shares using the MarketVector JitoSol VWAP Close Index. That benchmark aggregated pricing data from multiple trading platforms to determine a daily closing value. The structure permitted both cash and in-kind creations and redemptions, aligning it with existing commodity trust mechanics.

Under the statutory review process, the agency had forty five days from Federal Register publication to approve or disapprove the rule change. Regulators could extend that window to ninety days if further evaluation was required. The timeline placed the decision squarely within the second quarter review cycle.

Correlation Data And Onchain Footprint

The filing contended that JitoSOL remained economically comparable to SOL, supported by correlation analysis. JitoSOL represented SOL deposited into a staking pool on the Solana network, with rewards automatically compounded. Each token embodied underlying deposited assets and accrued staking yield.

Source: DeFi Education Fund

DefiLlama data showed Jito’s total value locked stood near 1.1 billion dollars after retracing from a peak above 3.0 billion dollars in 2025. That contraction reflected broader decentralized finance outflows entering early 2026. Even so, the protocol maintained one of the largest liquid staking footprints within the Solana ecosystem.

Brian Smith, president of the Jito Foundation, told the media that staking rewards would not be distributed separately. Instead, accrued yield would reflect directly in the fund’s net asset value. That mechanism mirrored how liquid staking tokens compound rewards natively rather than issuing periodic payouts.

Staking Exposure Versus Liquid Staking ETF Design

The United States already hosted exchange-traded funds that incorporated staking economics, though not liquid staking tokens. The REX-Osprey Solana plus Staking ETF began trading on July 2, combining spot Solana exposure with onchain staking rewards. In September, REX-Osprey introduced an Ether plus Staking ETF offering monthly yield-linked distributions.

Grayscale later expanded staking across parts of its exchange-traded lineup. The firm enabled staking within the Grayscale Ethereum Mini Trust ETF and Grayscale Ethereum Trust ETF. It also activated staking for the Grayscale Solana Trust, which sought regulatory approval to uplist as an exchange-traded product.

Those vehicles differed structurally from the VanEck JitoSOL ETF. Existing funds typically held the underlying asset and staked it directly. By contrast, the proposed trust would hold a liquid staking token that already embedded staking returns within its structure.

Regulatory guidance shaped that distinction. The Securities and Exchange Commission’s Division of Corporation Finance said in May that certain protocol staking activities generally did not involve the offer or sale of securities. In August, staff issued similar guidance on liquid staking and staking receipt tokens, though those statements did not constitute formal rulemaking.

The next inflection point centers on the initial forty-five-day review deadline tied to Federal Register publication. Approval would introduce the first U.S.-listed liquid staking token exchange-traded fund, while disapproval could reset the timeline for similar proposals. Market participants now watch the agency’s response as staking products continue moving toward regulated wrappers.

The post Nasdaq Files to List VanEck JitoSOL Staking ETF appeared first on The Coin Republic.