In a groundbreaking move for the European cryptocurrency market, 21Shares has announced the launch of the first Jito-staked Solana Exchange-Traded Product (ETP) on the continent. This innovative product offers investors exchange-traded exposure to JitoSOL, a staked version of Solana, with the added benefit of embedded staking rewards. As liquid staking ETFs remain a topic of regulatory scrutiny in the United States, this development represents a significant stride forward for European investors looking to diversify their crypto portfolios.
The Jito-staked Solana ETP is designed to provide an accessible and efficient way for investors to gain exposure to the Solana ecosystem. By integrating staking rewards directly into the ETP, 21Shares has effectively streamlined the process of earning additional income through staking, which traditionally required a more hands-on approach. This convenience is expected to appeal to a wide range of investors, from individuals new to the crypto market to seasoned traders looking for innovative investment opportunities.
Staking is a popular method within the cryptocurrency community for earning passive income. It involves holding a certain amount of cryptocurrency in a blockchain network to support its operations, for which participants are rewarded with additional tokens. JitoSOL is a product of Jito Labs, a company specializing in enhancing the Solana network’s efficiency and decentralization through its cutting-edge technology. By staking Solana, or SOL, through Jito Labs, holders participate in securing and operating the network while earning rewards.
21Shares’ decision to launch this product in Europe is particularly noteworthy given the current regulatory landscape. In the United States, the Securities and Exchange Commission (SEC) has maintained a cautious stance on approving liquid staking ETFs, citing concerns over investor protection and market stability. This has left European markets with a unique opportunity to lead in the adoption of such innovative financial products.
Hany Rashwan, CEO of 21Shares, expressed his enthusiasm about the launch, stating, “We are thrilled to bring the first Jito-staked Solana ETP to Europe. This product not only provides a new way to access the burgeoning Solana ecosystem but also showcases our commitment to offering investors cutting-edge products that enhance their investment strategies.”
The launch of the Jito-staked Solana ETP comes at a time when interest in Solana is surging due to its rapid growth and the increasing popularity of its blockchain for decentralized applications (dApps) and decentralized finance (DeFi) projects. Solana’s high throughput and low transaction costs make it an attractive platform for developers and investors alike, further bolstering its appeal.
As the European crypto market continues to mature, products like the Jito-staked Solana ETP are expected to play a crucial role in broadening investment opportunities and enhancing market liquidity. With 21Shares at the forefront of crypto ETP innovation, investors can anticipate more groundbreaking products that cater to the evolving demands of the digital asset landscape.
In conclusion, the launch of the Jito-staked Solana ETP by 21Shares marks a significant milestone in the European cryptocurrency market, providing investors with a novel way to engage with the Solana network while benefiting from the convenience of exchange-traded products. As regulatory frameworks continue to develop, such innovations are likely to shape the future of crypto investments across the globe.
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