VanEck launches Solana staking rewards ETN exclusive to Europe

VanEck has introduced a new Solana (CRYPTO:SOL) exchange-traded note (ETN) on the Euronext Amsterdam stock exchange, offering daily reinvested staking rewards exclusively for European investors. 

The ETN, valued at $73.9 million, allows holders to benefit from Solana staking rewards, which are incorporated into the ETN’s net asset value (NAV) each day. 

A 25% fee will be applied to these rewards, with adjustments made to the NAV by 4 p.m. CET. 

The staking mechanism employed in this ETN is non-custodial, ensuring that assets remain securely under the custodian's control and minimising lending risks. 

Matthew Sigel, VanEck’s head of digital assets research, cited Europe’s liquidity rules as a key factor in effectively managing redemptions. 

VanEck's decision to focus on Europe stems from the ongoing regulatory uncertainties around staking approvals in the U.S. 

Sigel expressed optimism, stating that the launch of a U.S. spot Solana ETF is "inevitable." 

Currently, Solana-based products have drawn in $58 million, trailing only behind Bitcoin and Ethereum products in popularity. 

In addition to this ETN, VanEck recently unveiled a $30 million venture capital fund aimed at supporting early-stage startups in fintech, digital assets, and artificial intelligence. 

VanEck’s latest product provides a new avenue for European investors seeking exposure to Solana while earning passive income through staking. 

As Solana-based offerings continue to expand, VanEck is positioning itself strategically within the digital asset and blockchain sectors.

At the time of writing, the Solana price was $167.24.