Push for liquid staking in Solana ETFs gains institutional support
Main Idea
Industry stakeholders, including Jito Labs, VanEck, and Bitwise, are advocating for the SEC to allow liquid staking for Solana and other cryptocurrencies, highlighting its benefits for market efficiency and investor options.
Key Points
1. Jito Labs, VanEck, and Bitwise are urging the SEC to permit liquid staking for Solana, enabling staked tokens to remain tradable and usable in various financial applications.
2. Liquid staked tokens (LSTs) can improve market efficiency by reducing tracking errors and aiding in portfolio rebalancing.
3. The SEC has not yet issued guidance on liquid staking, despite its growing relevance in the crypto market.
4. Nasdaq has filed applications to allow staking in BlackRock’s iShares Ether ETF, indicating broader industry interest in staking within exchange-traded products (ETPs).
5. BlackRock’s head of digital assets noted the firm’s Ether ETF has been successful but acknowledged room for improvement, particularly regarding staking.
Description
Though it has weighed in on traditional staking, the US Securities and Exchange Commission has not issued guidance on liquid staking.
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