Nasdaq has filed with the SEC to list the Vaneck JitoSOL ETF, which would be the first Solana ETF 100% backed by a liquid staking token. The proposal cites extremely high price correlation data between JitoSOL and SOL to argue the new fund presents no novel market risks, and the SEC has up to 90 days to review the rule change.
Nasdaq has submitted a proposal to the U.S. Securities and Exchange Commission to list and trade the Vaneck JitoSOL ETF. This fund, announced in August 2025, is designed as the first Solana spot ETF fully backed by a liquid staking token.
The ETF would hold JitoSOL directly to track its price via the MarketVector JitoSol VWAP Close Index. In liquid staking, users receive a tradable token like JitoSOL for staking their SOL, allowing them to trade the asset while still earning on-chain staking rewards.
The Nasdaq filing relies on generic listing standards the SEC approved in September 2025. It argues JitoSOL is economically comparable to SOL by demonstrating hourly price correlations of approximately 0.9979 on OKX and 0.9985 on Coinbase.
This high alignment means the proposed ETF does not introduce new pricing risks beyond the existing Solana ETF market. The SEC now has a 45-day review period for the proposal, which can be extended to 90 days.
According to the fund’s details, staking rewards would not be distributed separately to shareholders. Jito Foundation president Brian Smith stated that “the rewards would reflect on the fund’s net asset value.”
No liquid staking token fund is currently trading in the United States. Other products, however, like the REX-Osprey Solana + Staking ETF and Grayscale‘s staking-enabled ETFs, already provide combined exposure to spot prices and staking rewards.
