VanEck Digital Assets, LLC has filed an amended Form S-1 registration with the U.S. Securities and Exchange Commission (SEC) on October 31, 2025, for its proposed VanEck JitoSOL ETF. The exchange-traded fund seeks to track the market price of JitoSOL, a Solana-based liquid staking token, less operating expenses. The filing marks another step toward expanding regulated access to Solana’s ecosystem through financial instruments designed for institutional and retail investors.
VanEck’s Plan to Launch JitoSOL ETF
The proposed VanEck JitoSOL ETF aims to hold JitoSOL directly, reflecting its daily market value as reported by the MarketVector Index. The trust will allow authorized participants to create and redeem shares in 25,000-share blocks, known as “baskets,” using either cash or in-kind transactions. In-kind transactions involve delivering JitoSOL directly to the trust, while cash subscriptions will be converted into JitoSOL through third-party liquidity providers.
Besides, VanEck’s structure mirrors earlier filings for spot Solana ETFs but differs by focusing on the yield-bearing nature of JitoSOL. Each token represents staked SOL plus accumulated rewards, enabling investors to gain exposure to Solana’s staking yields without managing validator operations. The trust will not register under the Investment Company Act or the Commodity Exchange Act, as it intends to function purely as a digital asset trust.
Solana Price Holds Above Crucial Support
Solana’s market activity aligns with this regulatory milestone. The token trades around $186, with a 24-hour volume exceeding $4.2 billion. Despite a minor 1.12% daily drop, analysts expect renewed strength as long as SOL maintains support above $180.
According to analyst Ali Martinez, the 200-day simple moving average continues to act as dynamic support. He believes that sustained buying pressure could trigger a rebound toward $240 or even $300.
Elliott Wave Pattern Suggests a New Bullish Phase
Source: X
Technical strategist NekoZ describes the ongoing pattern as part of a larger Elliott Wave structure. He suggests that Solana has completed its corrective phase and is entering an impulsive primary trend.
The analysis points to $295 as the Wave 3 target, followed by a potential surge beyond $380 in Wave 5. Consequently, traders viewing current dips as opportunities may benefit if Solana confirms higher lows in upcoming sessions.
