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Efforts to promote liquid staking in Solana ETFs gained institutional support
Although it has intervened in traditional staking, the U.S. Securities and Exchange Commission has not published any guidelines on liquid staking.
Efforts to promote liquid staking in Solana ETFs gained institutional support
NEWS
Solana infrastructure provider Jito Labs, asset managers VanEck and Bitwise and two other stakeholders are asking the U.S. Securities and Exchange Commission (SEC) to allow liquid staking for exchange-traded products (ETPs) of
Liquid staking is a way to assign tokens to a validator in exchange for receiving a derivative token, meaning that the tokens in stake are not "locked". Liquid staking tokens (LSTs) can be traded, used in decentralized finance, or even lent. However, the process introduces additional risks that do not occur in traditional participation processes.
Groups appealing to the SEC, including the Solana Policy Institute and Multicoin Capital Management, argue that liquid staking could improve capital efficiency by allowing ETP issuers to avoid forced rebalancing.
"If issuers are forced to limit participation to a certain percentage of assets, large creations and redemptions would force rebalancing, which would increase the operating costs of the ETP and introduce a potential tracking bug," the letter reads. "LSTs could be used to quickly rebalance in that scenario and could even be delivered or received in kind by [authorized participants]...".
