At the Solana Oriental Conference held during Korea Blockchain Week, Jito Chief Business Officer Thomas Uhm updated attendees on the latest progress of the Jito Foundation's plan to issue the Jitos SOL ETF. Last month, the Jito Foundation announced that VanEck had submitted an S-1 application to the SEC for the JitoSOL ETF. This JitoSOL ETF is the first spot ETF backed by Liquid Staking Tokens (LST). JitoSOL, the staking token issued by Jito Network, has entered the formal review process and may become the first Solana spot ETF to be 100% backed by LST. If approved in the future, it will become a benchmark example in the cryptocurrency staking fund market.
JitoSOL ETF is based on liquidity pledge LST
JitoSOL is a tokenized version of SOL staking on the Solana blockchain, allowing users to stake their assets while maintaining liquidity and earning on-chain rewards. The Jito Foundation stated in an official statement that the new ETF will break the traditional boundaries of cryptocurrency staking funds, enabling investors to allocate assets more flexibly. The fund's core concept is to use LST (Liquid Staking Token) as a foundation, formatting JitoSOL into a financial product that complies with the US SEC's regulatory framework.
Recent SEC Guidance: Proof-of-Stake (PoS) Does Not Constitute a Securities Transaction
The Jito Foundation stated that the successful submission of its formal application was the result of months of collaboration with the U.S. Securities and Exchange Commission (SEC) and other regulatory agencies. Jito held several meetings with the SEC's Cryptocurrency Task Force. According to The Block , Jito CEO Lucas Bruder and General Counsel Rebecca Rettig personally discussed staking and re-staking issues with SEC officials to ensure the new ETF product met regulatory requirements.
Recent SEC guidance clearly defines staking activities, particularly Proof-of-Stake (PoS) staking, as not constituting securities transactions. Furthermore, certain liquidity staking activities do not involve securities, providing a compliant path for LST funds like JitoSOL. The Jito Foundation emphasizes that as regulatory and interpretative guidelines gradually clarify, LST-based ETFs (including the JitoSOL ETF) will move further toward compliance.
Cryptocurrency ETFs Enter a New Chapter
As the regulatory environment for cryptocurrencies becomes increasingly clear, the SEC has recently approved several cryptocurrency ETF proposals, including a Bitcoin spot ETF and an Ethereum ETF. This series of moves reflects the US government's increasingly open regulatory stance toward the cryptocurrency market. The Jito Foundation stated that the launch of the JitoSOL ETF aims to bridge the gap between innovative blockchain finance and traditional finance. If successfully launched, it will mark a new chapter in the formal regulatory compliance of Solana's staking financial products.
This article, Jito's Chief Business Officer Explains the Latest Developments of JitoSOL ETF at Solana Oriental, a Blockchain Week in Korea, originally appeared on ABMedia ABMedia .
