Bitwise, VanEck Push SEC Approval for LSTs in Solana ETFs
The post Bitwise, VanEck Push SEC Approval for LSTs in Solana ETFs appeared on BitcoinEthereumNews.com.
Crypto ETF issuers Bitwise and VanEck, alongside JitoLabs, Jito Foundation, Solana Policy Institute, and Multicoin Capital, have sent a public letter to the SEC, advocating for the approval of liquid staking tokens (LSTs) in ETFs. These stakeholders have specifically requested that the Commission begin by approving LSTs for the Solana ETFs. Crypto Stakeholders Press SEC To Approve LSTs For Solana ETFs The request came in a joint letter signed by Jito Labs, the Jito Foundation, and other major stakeholders in the crypto investment space. The plea includes the available Solana ETF filings from large asset managers such as Fidelity, Franklin Templeton, Grayscale, and 21Shares, in June 2025. These applications suggest that the funds would act as Staked ETPs, and can earn validators rewards on Solana. In its proposal, VanEck clearly indicated that existing LSTs like JitoSOL could make staking in Solana ETFs easier. The letter defines LSTs as what are provided when customers stake their Solana to smart contracts running publicly staked pools. The stake pool issues an LST as a formal representation of the staked asset and rewards that have accrued. These can still be traded or redeemed. This allows Solana ETF issuers to obtain staking yields without being validator mangers or being delayed by unbonding period. Liquid staking will enable token owners to be a full participant in the decentralization of the network. This is possible since their assets are distributed among numerous validators rather than a single one. This Solana ETF staking model differs from its traditional versions. Users don’t have to deal with keys or endure long redemption periods. Solana-based LSTs like JitoSOL use a reward-bearing structure where each token gradually increases in redeemable value over time. For example, one JitoSOL today might redeem for 1.08 SOL after one year, reflecting validator rewards. Bitwise, VanEck Cite…
Filed under: News - @ August 1, 2025 2:26 am