The proposal would allow a US exchange to trade shares of a fund holding JitoSOL, representing the first SEC exchange filing for a liquid staking token ETP.
Nasdaq has filed a proposed rule change to list the VanEck JitoSOL ETF, a fund designed to hold the Solana-based liquid staking token JitoSOL.
Liquid staking allows users to stake tokens to help secure a proof-of-stake network while receiving a transferable token in return that represents the staked assets and accrued rewards.
Jito Foundation president Brian Smith told Cointelegraph that if the fund is approved, staking rewards would not be distributed separately but instead would be reflected in the fund’s net asset value.
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