VanEck has filed an S-1 application to launch the first spot Solana ETF, supported by the liquid staking token JitoSOL. This move follows the SEC's 2025 clarification that certain structures of protocol and liquid staking do not constitute securities transactions, allowing for compliant use of LSTs in ETFs. The VanEck JitoSOL ETF aims to offer investors liquidity, tax and regulatory clarity, and the benefit of offsetting fees through staking income. Additionally, JitoSOL enhances Solana network security via decentralized staking, indirectly benefiting investors. The application is currently under review, marking a significant step in linking blockchain infrastructure with institutional investment.