Jito announced the filing of an exchange-traded fund (ETF) based entirely on Solana liquid staking tokens in a partnership with VanEck.

According to an Aug. 22 announcement, the filing represents months of collaborative regulatory outreach between Jito and VanEck, beginning with initial meetings with the US Securities and Exchange Commission (SEC) in February. 

The partnership aims to combine Solana exposure with staking rewards in a regulated wrapper accessible to traditional investors.

Matthew Sigel, head of digital assets research at VanEck, described the filing as selective but significant. 

He stated via X:

“We’ve been very selective with our single-token ETF filings this year, but today’s S-1 for the VanEck JitoSOL ETF matters. If listed, it would represent a new piece of market infrastructure that bridges DeFi innovation with TradFi accessibility.”

Regulatory clarity

The filing builds on SEC staff guidance issued on Aug. 5, which clarified that liquid staking activities do not constitute securities transactions when properly structured. 

This guidance essentially removed the final regulatory hurdle for staking-enabled crypto ETFs.

Jito’s preparation included a March 2025 securities classification report explaining why JitoSOL operates as a decentralized infrastructure rather than a security. 

The company participated in regulatory comment periods during the summer of 2025, providing feedback on the safe use of liquid staking tokens in exchange-traded products.

Operational benefits

The announcement noted that the JitoSOL structure offers key advantages for institutional investors. Liquid staking tokens eliminate unbonding delays, allowing daily ETF creation and redemption while maintaining staking reward accrual. 

The approach provides regulatory clarity through standard ETF accounting methods, giving investors access to staked Solana yields without operational complications.

Staking yields can offset or exceed expense ratios on networks like Solana, potentially improving long-term returns. The structure supports network security by decentralizing stake across validators, meaning investors contribute to blockchain health.

Jito Foundation Chief Commercial Officer Thomas Uhm worked with ETF issuers, custodians, and exchanges to establish infrastructure enabling VanEck’s product launch. The effort received support from Multicoin Capital, the Solana Foundation, and VanEck.

Further, VanEck and Jito join Canary Capital and Marinade in the group of issuers partnering with liquid staking protocols. Canary amended its Solana ETF filing in May 2025 to name Marinade Select as its staking provider.

The S-1 filing initiates a review process before potential market listing, positioning Jito to advance institutional crypto adoption through regulated on-chain finance products.

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Crypto asset management giant VanEck says that one altcoin project is flashing major signs of institutional adoption.

In a new report, VanEck highlights the growth of the Hedera (HBAR) ecosystem, which the firm notes in July, saw a price increase of over 70% due to a “wave of partnerships, network growth, and broadening institutional legitimization.”

VanEck named several examples of notable adoption of the Hedera network in July, including the Reserve Bank of Australia’s Project Acacia, which aims to explore the development of Australian wholesale tokenized asset markets.

Archax, the first regulated global digital asset exchange in the UK, also announced it would begin using the Hedera network for settlement purposes, VanEck notes.

“Institutional tokenization activity is also emerging. In late July, Archax created Hedera token contracts named after BlackRock, Fidelity ILF, State Street, Aberdeen Investments, and LGIM. Archax’s CEO confirmed these represent money market funds that could soon transact in HBAR, signaling early but still prelaunch interest in real-world asset tokenization on the network.”

And according to VanEck, stablecoin supply has exploded on Hedera. DefiLlama data shows that Hedera’s stablecoins are almost entirely driven by Circle’s USDC.

“Hedera’s on-chain activity was strong as Hedera’s transactions surged as did the supply of stablecoins on its blockchain.”

At time of writing, HBAR is trading at $0.24 with a market cap of $10.3 billion.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The chief executive of exchange-traded fund (ETF) provider VanEck is predicting that “super apps” will challenge traditional finance’s payments system.

In a new interview with CNBC Television, VanEck CEO Jan Van Eck says that apps that offer support for stablecoins will soon begin to put pressure on traditional methods of payments.

According to Van Eck, since stablecoins skip out on intermediaries such as Visa and Mastercard that charge about 3% in fees for payments, the super apps could serve as viable alternatives.

“I definitely think that this will put cost pressure on the payments system because it is cheaper and allows all these competitors to come into the market, whether it’s a Kraken, whether it’s a Robinhood, whether it’s an X, there are going to be a lot of super apps.”

On Friday, President Trump signed into law the GENIUS Act, which establishes a stringent regulatory framework for firms issuing payment stablecoins.

Van Eck goes on to note that while the stablecoin issuer Circle has done well so far this year, new competition is gearing up to enter the space.

“It’ll be several quarters before it’ll impact earnings, either to the positive or the negative. But stocks are kind of moving in anticipation of that right now.

And you see the incumbents – Ethereum has had a great month; Circle, the one public stablecoin company, has had a great run since its IPO (initial public offering). The market is getting ahead of it, but those are just the incumbents; there are going to be a lot of competitors entering into this space.”

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An analyst from one of the largest asset managers in crypto is outlining the key drivers behind Bitcoin’s (BTC) historic bull run.

Matthew Sigel, the head of digital assets research at VanEck, says on the social media platform X that BTC is now up 30% year-to-date, outpacing gold (+27%), the MSCI ACWI (+11%) and the S&P 500 (+7%).

“This rally reflects deepening institutional engagement, favorable macro conditions, and emerging policy clarity.”

Sigel notes that corporate treasuries are driving net demand, having bought more than 300,000 BTC this year, more than double the amount absorbed by spot Bitcoin exchange-traded funds (ETFs).

“MicroStrategy and MetaPlanet remain the largest accumulators, but a surge in shells, reverse mergers, and SPACs (special purpose acquisition companies), often backed by global investment banks, has fueled fresh capital formation in the sector. This dynamic marks a shift. Bitcoin is moving from speculative trading desks to strategic balance sheets.”

The digital assets researcher also notes that Bitcoin volatility dropped to around 23% in early July, one of the lowest levels in a decade.

“Lower volatility is making Bitcoin easier to size within institutional portfolios, particularly for allocators focused on Sharpe ratios and downside risk.”

Sigel says spot Bitcoin ETFs have picked up and brought in $3.7 billion in net inflows so far this month, with year-to-date inflows hovering around $16 billion.

“Participation is growing across retail, RIAs (registered investment advisors) and wirehouse platforms such as Morgan Stanley and Merrill Lynch, reflecting broader institutional acceptance.”

The researcher also points to “policy tailwinds” in Washington, DC.

“Crypto Week began July 15th, with three key bills under review: the GENIUS Act (stablecoins), the CLARITY Act (market structure), and the Anti-CBDC Act. Polymarket odds place an 89% probability on passage of the GENIUS Act this year, signaling bipartisan appetite to legitimize fiat-backed stablecoins and potentially unlock a wave of new issuance and payment infrastructure.”

Sigel says the potential for two interest rate cuts from the U.S. Federal Reserve later this year could support flows into Bitcoin and gold.

He also notes miners continue to remain net holders following the April 2024 BTC halving, with their balances recently reaching a 12-month high.

“Only approximately 5.2% of Bitcoin supply has moved in the last 30 days, according to IntoTheBlock, indicating strong holder conviction and reduced available float.”

BTC is trading at $116,524 at time of writing and is down more than 3% in the past 24 hours.

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Matthew Sigel, the head of digital assets research at VanEck, has criticized the US Securities and Exchange Commission (SEC) over a delayed response on a proposal to list options trading on the firm’s Bitcoin Spot ETF. 

Notably, the Commission has continued to issue delayed responses to all recent digital asset-related ETF proposals/amendments despite a crypto-friendly policy of the Donald Trump Administration.

SEC Delay Is Frustrating, Offers No Feedback, VanEck’s Sigel Says

On April 3, 2025, the Chicago Board of Exchange (Cboe) filed a proposed rule change to list options trading on the VanEck Bitcoin ETF (HODL). For context, options trading grants investors the right to buy and sell an asset at a specific price before a certain date.

Following the resounding success of the US Bitcoin Spot ETFs, options trading became a potential mode of market expansion, with several asset managers submitting applications to offer options to their respective ETFs. 

Notably, the SEC has granted approval for this request for multiple Bitcoin ETFs, including the Fidelity Wise Origin Bitcoin Fund (FBTC), BlackRock iShares Bitcoin Trust (IBIT), Grayscale Bitcoin Mini Trust (BTC), and the Bitwise Bitcoin ETF (BITB), among others. 

However, following the initial 45-day review, the Commission has delayed a response on Cboe’s proposal to list trading options on the VanEck Bitcoin ETF (HODL). In an X post on May 23, Matthew Sigel strongly criticized this decision, which he described as “frustrating” and offered no transparency to investors. 

While tagging Hester Pierce, the Head of the SEC’s Crypto Task Force, Sigel complained that the Commission had issued a delayed response while offering no comments or feedback along with this decision. The VanEck Exec explained the asset manager’s objection to this development while responding to a user comment. He said. 

This was the first decision date, so it has not been rejected, just delayed, even though the SEC’s initial comments were addressed. It’s the lack of any feedback that is particularly irksome…

It is highly worth noting that delayed responses by the SEC have been quite a common response for digital assets ETF-related proposals. The Commission can choose to wait till the final decision deadline, i.e., 240 days after the application, as seen with the Bitcoin Spot ETFs in 2024.  However, Sigel’s concerns stem from an absence of an explanation on this delayed ruling, especially considering that options trading has been approved for certain other Bitcoin Spot ETFs.

Bitcoin Price Overview 

At the time of writing, Bitcoin trades at $108,349, reflecting gains of 5.23% and 17.71% in the past seven and 30 days, respectively. 

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VanEck plans to launch a private digital assets fund in June targeting tokenized Web3 projects built on the Avalanche blockchain network, the asset manager said in a statement shared with Cointelegraph.

The VanEck PurposeBuilt Fund, available only to accredited investors, aims to invest in liquid tokens and venture-backed projects across Web3 sectors, including gaming, financial services, payments, and artificial intelligence. 

Idle capital will be deployed into Avalanche (AVAX) real-world asset (RWA) products, including tokenized money market funds, VanEck said.

The fund will be managed by the team behind VanEck’s Digital Assets Alpha Fund (DAAF), which oversees more than $100 million in net assets as of May 21. 

“The next wave of value in crypto will come from real businesses, not more infrastructure,” Pranav Kanade, portfolio manager for DAAF, said in a statement.

Related: Tokenized stocks could top $1T in market cap — Execs

Thematic crypto funds

VanEck’s PurposeBuilt Fund is the latest in a series of funds from the asset manager and rivals designed to offer exposure to projects and companies in fast-growing segments of Web3. 

On May 14, VanEck launched a new actively managed exchange-traded fund (ETF) to invest in stocks and financial instruments providing exposure to the digital economy.

In April, VanEck launched another ETF investing in a passive index of companies operating in the crypto space. 

Asset managers such as VanEck are requesting the US Securities and Exchange Commission’s (SEC) permission to list upward of 70 crypto ETFs. 

The wave of ETF filings is in response to US President Donald Trump softening the agency’s regulatory stance toward crypto after Trump took office in January.

Avalanche RWA ecosystem

Avalanche has emerged as a hub for real-world assets (RWAs) and other institutional-oriented crypto projects.

Its interrelated networks, called subnets, allow institutions to run Ethereum-style smart contracts in a controlled environment. On May 16, Solv Protocol launched a yield-bearing Bitcoin token on the Avalanche blockchain, targeting institutional investors

Avalanche has around $1.5 billion in total value locked (TVL) as of May 21, according to data from DefiLlama. 

“We’re seeing a shift away from speculative hype toward real utility and sustainable token economies,” John Nahas, chief business officer at Ava Labs, said in a statement.

Magazine: Danger signs for Bitcoin as retail abandons it to institutions — Sky Wee

A leading real-world asset platform with nearly $4 billion in tokenized securities under management is partnering with VanEck to launch the global investment firm’s first tokenized fund.

In a new press release, VanEck announces the launch of VanEck Treasury Fund (VBILL) in partnership with Securitize.

VBILL is available for use on Avalanche (AVAX), BNB Chain (BNB), Ethereum (ETH) and Solana (SOL), all layer-1 blockchains.

Says Carlos Domingo, Co-Founder and CEO of Securitize, of the partnership,

“We are proud to continue enhancing how investors access tokenized securities.

This collaboration merges the best of Securitize’s fully integrated tokenization model with VanEck’s deep expertise of asset management. With VBILL, our combined efforts demonstrate tokenization’s ability to create new market opportunities with the speed, transparency, and programmability of blockchain technology.”

VBILL uses Secruitize’s tokenization, fund administration, transfer agency, and broker-dealer services.

Adds Kyle DaCruz, Director of Digital Assets Product at VanEck,

“By bringing U.S. Treasuries on-chain, we are providing investors with a secure, transparent, and liquid tool for cash management, further integrating digital assets into mainstream financial markets.

Tokenized funds like VBILL are enhancing market liquidity and efficiency, underscoring our commitment to providing value to our investors.”

Last month, the U.S. Securities and Exchange Commission (SEC) greenlit a new, crypto-related, “Oncahin Economy exchange-traded fund (ETF)” from VanEck.

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