VanEck launches the first liquid staking ETF of Solana 🚀
VanEck has launched the first liquid staking ETF of Solana (SOL) in Europe. The product, called VanEck Solana ETN (VSTL), is listed on the Deutsche Börse Xetra and SIX Swiss Exchange. This ETF offers investors exposure to the price of SOL, as well as additional returns from liquid staking.
What is liquid staking? 💧
Liquid staking is a mechanism that allows investors to "lock" their cryptocurrencies to support the network while maintaining liquidity to trade or use these assets on other DeFi platforms.
How does this ETF work? 📈
* Exposure to the price of SOL: The ETF replicates the performance of the price of Solana.
* Staking and yield: The fund invests in a liquid staking protocol, such as Jito (JTO).
* Distributed rewards: The yield generated from staking is reinvested in the ETF, increasing the net asset value.
This launch is an important step for the institutional adoption of crypto assets, as it provides a regulated and accessible way for traditional investors to benefit not only from the appreciation of Solana but also from staking yields.
Are you interested in learning more about other cryptocurrency ETFs? 🪙 follow me and ask me in the comments.
