Europe welcomes inaugural Jito-staked Solana ETP from 21Shares
This investment vehicle delivers exchange-traded access to JitoSOL featuring integrated staking yields, while American regulators continue evaluating liquid staking ETF applications.
Swiss investment firm 21Shares has introduced a Jito-staked Solana exchange-traded product to European markets, providing listed market exposure to the SOL cryptocurrency with integrated staking capabilities.
Trading under the symbol JSOL in both United States dollars and euros, the 21Shares Jito Staked SOL ETP has been listed on Euronext Amsterdam and Paris exchanges, representing Europe's first exchange-traded product backed by JitoSOL, the company announced. The investment vehicle directly holds JitoSOL assets and incorporates staking rewards into its net asset value calculations.
JitoSOL, a token issued through the Jito Network, signifies SOL deposits into a liquid staking program operating on the Solana blockchain network, where staked assets maintain their transferability instead of being locked up. By holding JitoSOL, market participants can generate staking yields through a liquid token mechanism, eliminating the need to directly delegate to validators or oversee onchain staking procedures.
Through a sequence of social media posts on X published Thursday, Jito announced that the investment product provides institutional market participants with regulated access to JitoSOL while simultaneously capturing staking and maximal extractable value (MEV)-related rewards.
According to the protocol, this European market launch follows VanEck's JitoSOL ETF application filed in the United States last year and represents part of a wider initiative to broaden institutional access to its liquid staking infrastructure platform.
Based in Switzerland, 21Shares is an issuer managing over 55 cryptocurrency ETPs listed throughout European exchanges with approximately $8 billion in assets under management on a global scale, the company reports. The firm introduced its inaugural physically backed cryptocurrency ETP in 2018.
Beginning in October, the company has functioned as a subsidiary of FalconX, though it continues to maintain autonomous product development and investment operations.
Established in 2021, Jito Network specializes in liquid staking services and validator infrastructure for the Solana blockchain. As of the time of publication, the JitoSOL token maintained a market capitalization of approximately $1.67 billion, based on CoinGecko data.
Solana staking ETFs launch in US, but liquid staking still up for debate
Within the United States, regulatory authorities have granted approval to several Solana staking ETFs, though liquid staking products have not yet secured clearance.
During July, the nation's first Solana staking ETF listed domestically attracted $12 million in net inflows during its initial trading day. By October, Bitwise's Solana staking ETF debuted with over $220 million in assets. This investment product delivers exposure to Solana coupled with staking-generated yield. During that identical month, Grayscale Investments introduced a staking-enabled Solana spot ETF within the US market.
American regulatory authorities have greenlit multiple Solana staking ETFs, yet they continue to prohibit liquid staking products from entering the domestic marketplace.
In July, Jito Labs, alongside asset management firms VanEck and Bitwise, petitioned the United States Securities and Exchange Commission to permit liquid staking within Solana ETPs, contending it would enhance capital efficiency and decrease operational rebalancing requirements.
Approximately one month following that petition, VanEck submitted an application for a US-listed ETF that would maintain holdings in JitoSOL. At the time of publication, regulatory approval for the ETF had not been granted.
Lucas Bruder, CEO of Jito Labs, told Cointelegraph that the company expects JitoSOL-based products to receive approval in the US and is seeing growing interest from markets in Asia and the Middle East.
The path forward relies on continued education around digital assets, proof-of-stake mechanics, and Solana's infrastructure advantages.
Lucas Bruder, CEO of Jito Labs