Asset Manager Vaneck has requested to launch a stacked Solana Exchange-Traded Fund (ETF)Signaling continued interest in bringing blockchain-native dividend-bearing assets to traditional investment rails.
The application that was submitted Friday as an S-1 registration with the US Securities and Exchange Commission (SEK)is the first of two archives required to list the fund. If approved, ETF would hold Jitosol, a floating stake -token, resident in Solana Blockchain. Jitosol reflects ownership of the sun -tokens, which is set and also accrues the poor wages earned by these tokens.
Unlike traditional ETFs, this product would not only track the price of sun, but also the income generated by setting – effectively baking Solana’s dividend into a listed product.
SEC has been in ongoing discussions with ETF providers, including Vaneck, about whether stack components can be integrated into existing and proposed cryptoin investment funds.
Regulating bottlenecks
SEC President Paul Atkins, who spoke on an industrial panel in Jackson Hole earlier this week, said the commission is looking to clear regulatory bottlenecks that slowly innovation.
“There is a lot of spring cleaning to be done at SEC,” he said. “We can’t have things so abruding that lawyers cannot give statements to clients.”
Atkins said the future rules of the agency should be flexible and designed to develop. He added that SEC wants to continue his inheritance to adapt to new technologies and suggest a more open attitude towards crypto -active products such as Liquid Staking ETFs.
Vaneck joins a number of asset managers who want to launch a stacked Solana fund, including Fidelity, Grayscale and Franklin Templeton.
