- VanEck filed the first-ever JitoSOL ETF with the SEC, fully backed by staked SOL.
- Jito’s token (JTO) rallied 10% but faces heavy resistance around $2.
- ETF approval could mark a turning point for liquid staking adoption in traditional markets.
VanEck, the $133B asset manager, has officially stepped into new territory by filing with the SEC for a JitoSOL ETF—the first of its kind. What makes this historic isn’t just that it’s a Solana-based product, but that it’s the very first application for a liquid staking token (LST) ETF. In short, the ETF would be fully backed by JitoSOL, which represents staked SOL locked inside the Jito protocol. A deposit receipt token turning into a Wall Street product? That’s a milestone for both Solana and staking.
Big Win for Jito and Solana Staking
The news was quickly hailed as a breakthrough. Tushar Jain, co-founder of Multicoin Capital, called it “a huge win for Jito and Solana.” According to Jito, this wasn’t some rushed filing but the result of long collaboration with SEC staff. The timing also lines up with recent regulatory clarity: back in May, the SEC said protocol staking for proof-of-stake networks didn’t count as securities. Then, in August, they described LSTs as “technical receipts” rather than investment contracts. This opens the door for staking to be included in spot ETFs, which could help improve liquidity, compliance, and even tax treatment. Jito summed it up neatly in their statement: “Jito will remain at the tip of the spear for institutional adoption.”
Market Reaction: Jito Token Rallies
The filing sent ripples across Solana DeFi and gave Jito’s native token (JTO) a noticeable bump. JTO gained about 10% on the weekly chart, breaking above its 100-day SMA, though it stalled around the $2 resistance level. Unless bulls manage to flip that mark into support, the rally could cool off short term. A push higher would likely target $2.20 next, but traders are treading carefully. Data from Coinglass shows top Binance traders trimmed long positions from 62% to 49% over two days—classic profit-taking near a key resistance zone.
What’s Next for Solana and LSTs
Even with near-term resistance at $2, the bigger story is clear. A regulated ETF tied directly to staked SOL would give institutions a compliant way to tap into Solana’s DeFi ecosystem. It also adds legitimacy to the liquid staking market at large, which has been growing fast but often lacked regulatory clarity. If approved, VanEck’s JitoSOL ETF could act as a key catalyst—not just for Solana, but for LSTs and staking in traditional finance. For now, eyes stay locked on the SEC’s response.
