“The Fund Wuld Offer Exposure to Staged Solana Via Jitosol, Tracing Staking Rewards.”, – WRITE: www.coindesk.com
The Application, Submitted Friday As An S-1 Registration with the US Securities and Exchange Commission (Sec), is the FIRST of Two Filings Required to List the FUND. If Approved, The Etf would Hold Jitosol, A Liquid Staking Token Native to the Solana Blockchain. Jitosol Reflects Ownership of Sol Tokens That Have Been Staged and Also Accrues The Staking Rewards Earned by Those Tokens.
Unlike Traditional Etfs, This Product Willd Not Just Track The Price of Sol But Also The Income Generated by Staking – Effectievely Baking Slalana’s Yield Into A Publicly Traded.
The Sec Has Been In Ongoing Discussions with ETF Providers, Including Vaneck, About Whther Staking Components Can Be Integrated Into Existing and Proped Crypto Investment Funds.
Regulatory BottlenecksSpeaking at An Industry Panel in Jackson Hole Earlier this Week, Sec Chair Paul Atkins Said the Commission is Looking to Clear Regulatory Bottlenecks that Slow Innovation.
“There’s A Lot of Spring Cleance That Needs To Be Done at the Sec,“ He Said. “We Cannot have Things SO ABSTRUSE THAT LAWYERS CAN’T GIVE OPINIONS TO CLIENTS.”
Atkins Said the Agency’s Future Rules Should Be Flexible and Designed to Evolve. He Addted that Sec Wants to Continue ITS Legacy of Adapting to New Technologies, Hinting at A More Open Stance Town Crypto Asset Products Like Liquid Staking Etfs.
Vaneck Joins A Number of Asset Managers Looking to Launch A Staged Solana Fund, Including Fidelity, Grayscale and Franklin Templeton.
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The Oracle Network’s Native Token Smashed Through Resistance Levels, Hitting Its Strongest Price Since December.
- Chainlink’s Token Link Surged 12% Following Dovish Comments by Federal Reserve Chair Jerome Powell.
- Chainlink Achieved Two Majoor Security Certifications, ISO 27001 and Soc 2 Type 1, Enhand Trust in ITS PLATFORM.
- Institutional Investors Drove Significant Trading Volumes, Indicating Strategic Accuumulation of Link Tokens.
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