21Shares, a leading exchange traded product provider in Europe has introduced a Jito staking Solana token that offers exposure listed to the SOL Token with staking.
According to JitoSOL’s company, the 21Shares Jito Staked SOL ETP is the first Europe listed ETP that will be backed by JitoSOL. It trades under JSOL and in US Dollars and Euros. Product Overview holds JitoSOL direct and reflects stake reward in its net assets value.
JitoSOL is a SOL-based product developed by Jito Network.SOLStaked tokens can be transferred rather than being locked. JitoSOL is a liquid token that allows holders to gain staking returns without having to delegate to validators, or manage onchain stake operations.
A series of posts Jito, on Thursday on X, said that JitoSOL offers institutional investors regulated and rewarded access to JitoSOL.
Protocol said that its European launch is based on VanEck’s JitoSOL ETF application in the United States last year and represents a wider effort to increase institutional access to their liquid staking technology.
21Shares, a Swiss-based company with over 55 crypto ETPs on European exchanges as well as about $8 billion of assets managed globally worldwide, is an issuer. The company launched its first crypto ETP that was physically backed in 2018.
It has been operating as an subsidiary of FalconXWhile maintaining separate product and investment operations,.
Jito Network was launched in 2021, and it focuses on validator and liquid staking infrastructure for Solana. CoinGecko reported that at the time it was published, JitoSOL had a capitalization market of approximately $1.67billion. data.
Related: Solana validator count drops 68% as node costs squeeze small operators
Solana ETFs launched in US; liquid staking remains a hot topic.
US regulators have cleared several Solana liquid-staking ETFs but not all.
First Solana ETF in country listed on the market $12 million in net inflows The company was listed on the first day. The first day of trading was October. Bitwise’s Solana staking ETF launched With assets of more than $200 million. The product gives exposure to Solana and staking derived yield. Grayscale Investments released a new product the same month. staking-enabled Solana spot ETF The US
US regulators approved multiple Solana ETFs for staking, but they continue to ban liquid staking from the US market.
Jito Labs and VanEck, as well as Bitwise and VanEck, asset managers, called on the US Securities and Exchange Commission in July to adopt a new standard for disclosure. allow liquid staking in Solana ETPsIt could reduce operational rebalancing and improve capital efficiency, according to the argument.
VanEck was still in the same place a few weeks later. filed A US-listed ETF that would hold JitoSOL. As of the date this was written, the ETF hadn’t been approved.
Lucas Bruder told Cointelegraph, as CEO of Jito Labs: “We expect JitoSOL to get approved by the US government and we are seeing a lot more interest in Asia and Middle East.”
“The path forward relies on continued education around digital assets, proof-of-stake mechanics, and Solana’s infrastructure advantages,” Bruder stated.
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Source: cointelegraph.com
