According to the SEC meeting memorandum file dated February 14, on February 5, 2025, the Crypto Enforcement Task Force staff met with representatives from Jito Labs and Multicoin Capital Management, and discussed two main topics:
The feasibility of incorporating staking functionality into exchange-traded products (ETPs);
Staking model proposals for specific cryptocurrency ETPs.
Incorporating staking functionality into ETPs would benefit investors, more accurately reflect the intrinsic value of native network assets, and allow issuers to support the security of the asset's underlying network. There are at least two viable paths for a staking model:
1. Allowing a portion of the assets in the ETP to be staked through validator node providers, while ensuring timely redemption;
2. Introducing a liquid staking token (LST) (such as the staking token JitoSOL for the native asset SOL on the Solana blockchain), enabling the staking of all native assets.
