21Shares has launched a Jito-staked Solana exchange-traded product in Europe, offering listed exposure to the SOL token with staking embedded.
The 21Shares Jito Staked SOL ETP will trade under the ticker JSOL in US dollars and euros and is listed on Euronext Amsterdam and Paris, making it the first Europe-listed ETP backed by JitoSOL, according to the company. The product holds JitoSOL directly and reflects staking rewards in its net asset value.
Issued by the Jito Network, JitoSOL represents SOL (SOL) deposited into a liquid staking program on the Solana network, where staked tokens remain transferable rather than locked. Holding JitoSOL allows investors to earn staking yield through a liquid token, without directly delegating to validators or managing onchain staking operations.
In a series of posts on X on Thursday, Jito said the product offers institutional investors regulated access to JitoSOL while capturing staking and MEV-related rewards.
The protocol said its European launch builds on last year’s JitoSOL ETF filing from VanEck in the United States and reflects a broader effort to expand institutional access to its liquid staking infrastructure.
21Shares is a Switzerland-based issuer with more than 55 crypto ETPs listed across European exchanges and about $8 billion in assets under management globally, according to the company. It launched its first physically backed crypto ETP in 2018.
Since October, it has operated as a subsidiary of FalconX, while maintaining independent product and investment operations.
Jito Network launched in 2021 and focuses on liquid staking and validator infrastructure on Solana. At the time of writing, its JitoSOL token had a market capitalization of about $1.67 billion, according to CoinGecko data.
Related: Solana validator count drops 68% as node costs squeeze small operators
Solana staking ETFs launch in US, but liquid staking still up for debate
In the US, regulators have approved several Solana staking ETFs, but liquid staking has yet to receive clearance.
In July, the first Solana staking ETF listed in the country recorded $12 million in net inflows on its first day of trading. In October, Bitwise’s Solana staking ETF launched with more than $220 million in assets. The product provides exposure to Solana alongside staking-derived yield. That same month, Grayscale Investments launched a staking-enabled Solana spot ETF in the US.
US regulators have approved multiple Solana staking ETFs, but continue to bar liquid staking products from the domestic market.
In July, Jito Labs, along with asset managers VanEck and Bitwise, urged the US Securities and Exchange Commission to allow liquid staking in Solana ETPs, arguing it could improve capital efficiency and reduce operational rebalancing.
About a month later, VanEck filed for a US-listed ETF that would hold JitoSOL. At the time of writing, the ETF had not been approved.
Lucas Bruder, CEO of Jito Labs, told Cointelegraph that the company expects JitoSOL-based products to receive approval in the US and is seeing growing interest from markets in Asia and the Middle East.
“The path forward relies on continued education around digital assets, proof-of-stake mechanics, and Solana’s infrastructure advantages,” Bruder said.
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