21Shares announced Europe's first ETP product backed by JitoSOL, giving institutional investors access to Solana $1.67 billion Liquid Staking Capital .
21Shares , a cryptocurrency product issuer and now a subsidiary of FalconX, has officially launched its first exchange-traded product (ETP), Solana, in Europe, integrating Liquid Staking via the Jito protocol. This is a significant step in expanding access to cryptocurrencies for institutional investors in the region, while similar products are still awaiting approval in the US market.
The 21Shares Jito Staked SOL ETP, trading under the ticker symbol JSOL, is listed on Euronext Amsterdam and Euronext Paris with valuations in both USD and euros. The unique feature of this ETP is its direct holding of JitoSOL, a Liquid Staking Token representing SOL Staking on the Solana network. The product's net asset value automatically reflects the Staking yield, providing passive income for investors without requiring them to directly manage on-chain Staking activities.
Advantages of Liquid Staking over traditional Staking
JitoSOL, issued by Jito Network, allows investors to both benefit from Staking yields and maintain asset liquidation . Unlike traditional Staking where Token are locked for a certain period, JitoSOL can be freely transferred while still accumulating rewards. According to Jito Network, investors also benefit from MEV (Maximum Extractable Value)-related advantages, creating an additional source of income.
The Jito protocol stated that its European launch builds upon the JitoSOL ETF application that VanEck filed in the US last year, reflecting a strategy to expand access to Liquid Staking infrastructure for institutional investors globally. Currently, JitoSOL has a market Capital of approximately $1.67 billion, according to CoinGecko data.
21Shares, a Swiss-based company, currently manages approximately $8 billion in global assets with over 55 ETP (Employee Trade-in Program) products listed on European exchanges. The company pioneered the first physically backed ETP in 2018 and became a subsidiary of FalconX last October, while maintaining independent product development operations.
Meanwhile in the US, regulators have approved several regular Solana Staking ETFs but have yet to approve Liquid Staking products. The first Solana Staking ETF listed in the US in July recorded a net Capital of $12 million on its first day. By October, Bitwise launched a Solana Staking ETF exceeding $220 million, followed by Grayscale Investments with a similar product.
Lucas Bruder, CEO of Jito Labs, Chia Cointelegraph that the company expects JitoSOL-based products to be approved in the US soon, while also noting increased interest from Asian and Middle Eastern markets. He emphasized that the path forward depends on increased understanding of the crypto asset and the infrastructure advantages of Solana.
