Jito Foundation, a crypto protocol that supports the Solana blockchain has raised $50 million in a private token sale led by Andreessen Horowitz’s a16z crypto, it announced in a press release Thursday.
The funding will support the foundation’s efforts to scale the Jito network’s infrastructure, expand its developer tools, and continue to build out liquid staking solutions tailored to Solana’s architecture.
JITO rose about 4% on the news and was trading at $1.17 at press time.
At the center of Jito’s operations are two main products: a validation client optimized for Solana’s high-speed network and JitoSOL, a floating stake token with over $3.2 billion in market capitalization.
Together, they allow Solana users to earn stake rewards while enabling fast, cost-effective transaction processing.
With backing from a16z, one of crypto’s largest venture firms and an early Solana investor, Jito plans to expand its open source tool, support new developers and expand globally. The fund also aims to build on its newest infrastructure addition: the Block Assembly Marketplace (BAM), launched in September.
“This is not just about scaling,” Brian Smith, president of the Jito Foundation, said in the release. “It’s about helping everyone at Solana extract more value while making the network more transparent and programmable.”
The funding also comes on the heels of a proposed VanEck JitoSOL ETF filing with the Securities and Exchange Commission in August. If approved, it will provide traditional investors with regulated exposure to venture returns from JitoSOL, marking a step towards integrating Solana-native products into conventional finance.
Ali Yahya, general partner at a16z crypto, said Jito’s role in building foundational tools like BAM puts it in a strong position to lead Solana’s next wave of growth. “Jito is catalyzing growth for the entire Solana ecosystem,” he said.
