What Is the VanEck JitoSOL ETF Nasdaq Just Filed For?

[tradelikepro]

What did Nasdaq file?
Nasdaq has submitted a proposed rule change to list the VanEck JitoSOL ETF, a fund designed to directly hold JitoSOL. The filing was made under Nasdaq Rule 5711(d), which governs commodity-based trust shares.

What is JitoSOL?
JitoSOL is a liquid staking token created by the Jito Network. It represents SOL staked on the Solana network while allowing holders to keep a transferable token that accrues staking rewards automatically.

How would the ETF handle staking rewards?
According to Jito Foundation president Brian Smith, rewards would not be paid out separately. Instead, because JitoSOL auto-compounds, staking yield would be reflected directly in the fund’s net asset value (NAV).

How would shares be priced?
The trust would use the MarketVector JitoSol VWAP Close Index, calculated from multiple trading platforms. Both cash and in-kind creations and redemptions would be permitted.

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writing open source code might get you indicted but packaging it into an etf gets you a ticker symbol