VanEck submitted an application to the U.S. Securities Exchange Commission for a JitoSOL exchange-traded fund, as investor interest in staked crypto ETFs continues to expand.

The ETF will track the price of JitoSOL, a kind of Solana liquid-staking token, or a tokenized asset that serves as a stand-in for an asset that has already been staked on a network.

Staking refers to the process of locking up cryptocurrencies on a blockchain to secure the network in exchange for rewards, usually in the form of tokens.

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Author: Liz Napolitano

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