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VanEck Introduces Solana ETP Staking Rewards in Europe

VanEck Europe's Solana exchange-traded note (ETN) will reinvest Solana rewards on a daily basis but the product will be exclusive to Europe for now

Photo by Maximalfocus / Unsplash

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Investment giant VanEck is bringing Solana staking rewards to investors in Europe.

Listed on the Euronext Amsterdam stock exchange, VanEck Europe's Solana exchange-traded note (ETN) will reinvest Solana rewards daily, providing a new form of passive income for its investors.

"Every day, Solana staking rewards will be reflected in the ETN’s net asset value," VanEck said about its VSOL $73.9 million product.

A 25% fee will be charged on staking rewards and the adjusted rewards will be incorporated into VSOL’s end-of-day NAV by 4 p.m. CET.

The staking process is non-custodial so assets remain under the control of the custodian, avoiding lending risks.

The ETN, which utilizes Solana's delegated proof-of-stake mechanism, remains fully redeemable but the staking feature is exclusive to Europe for now.

VanEck's head of digital assets research, Matthew Sigel, said the EU’s liquidity requirements give the firm “more room to manage redemptions effectively.”

Crypto ETFs are still awaiting staking approval and Sigel believes that a US spot Solana ETF is "inevitable."

Solana-based products have attracted $58 million, only behind Bitcoin and Ethereum based products.

Earlier this month, VanEck announced the launch of a $30 million early-stage venture capital fund dedicated to supporting innovative startups in the fintech, digital assets, and artificial intelligence sectors.

VanEck Launches New Crypto Fund to Fuel Innovation
The launch of VanEck Ventures further solidifies the investment manager’s position as a leader in the digital asset space.

The VanEck Ventures fund will focus on pre-seed and seed-stage companies, providing them with the capital and expertise needed to scale their businesses.

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