VanEck has submitted an S-1 registration statement to the SEC to launch the VanEck JitoSOL ETF, the first US exchange-traded fund backed by a liquid staking token. This fund will hold only JitoSOL, issued by Jito Network, granting investors access to Solana's staking rewards through a regulated product. JitoSOL allows for Solana to be locked with validators while providing a transferable token that accumulates rewards, known as liquid staking. This move follows appeals from Jito Labs and the Jito Foundation to regulators for permitting liquid staking tokens in exchange-traded products, supported by various firms. The SEC has issued guidance suggesting that staking generally does not constitute securities transactions, but its statements are not binding rules. The SEC's position on staking has shifted, highlighted by enforcement actions against exchanges like Kraken and Coinbase over unregistered staking services. This ETF could influence the SEC's stance on staking tokens in the future.

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