Nasdaq Advances in Crypto ETF Space
Nasdaq has filed an application with the U.S. Securities and Exchange Commission (SEC) to list the VanEck JitoSOL ETF. This fund will directly invest in JitoSOL tokens built on the Solana blockchain, signaling increased institutional interest in crypto staking mechanisms.
How the JitoSOL ETF Works
According to the filing, staking rewards will not be distributed separately to investors. Instead, these returns will be automatically incorporated into the fund’s net asset value, simplifying the investment experience.
- Fund ticker not yet disclosed
- Underlying asset is JitoSOL token
- Rewards rolled into NAV
Market Implications and Outlook
This move reflects growing acceptance of DeFi assets by traditional financial players. If approved, the ETF could offer mainstream investors an accessible way to gain exposure to Solana-based staking without direct crypto ownership.