21Shares has launched a Zito-Staked Solana exchange-traded product in Europe, offering listed exposure to SOL tokens with staking embedded.
According to the company, the 21Shares Zito Stacked SOL ETP will trade in US dollars and euros under the ticker JSOL and is listed on Euronext Amsterdam and Paris, making it the first Europe-listed ETP backed by ZitoSOL. This product directly holds JeetoSOL and reflects stake rewards in its net asset value.
Issued by the Zito Network, ZitoSOL represents SOL (SOL) deposited into a liquid staking program on the Solana network, where staked tokens remain transferable rather than locked. Holding ZitoSOL allows investors to earn staking yields through liquid tokens, without directly delegating them to validators or managing onchain staking operations.
In a series of posts on X on Thursday, Zito said the product provides institutional investors with regulated access to ZitoSol while securing staking and MEV-related rewards.
The protocol said its European launch builds on last year’s GitoSol ETF filing from VanEck in the United States and reflects a broader effort to expand institutional access to its liquid staking infrastructure.
According to the company, 21Shares is a Switzerland-based issuer with more than 55 crypto ETPs listed on European exchanges and approximately $8 billion of assets under management globally. It launched its first physically-backed crypto ETP in 2018.
Since October, it has been operating as a subsidiary of FalconX, while maintaining independent product and investment operations.
Zito Network launched in 2021 and focuses on liquid staking and validator infrastructure on Solana. At the time of writing, its ZitoSol token had a market capitalization of approximately $1.67 billion, according to CoinGecko data.
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Solana Staking ETF Launches in US, But Liquid Staking Is Still Up for Debate
In the US, regulators have approved several Solana staking ETFs, but liquid staking has not yet been approved.
In July, the first Solana staking ETF listed in the country recorded net inflows of $12 million on its first day of trading. In October, Bitwise’s Solana Staking ETF launched with over $220 million in assets. This product provides exposure to Solana along with staking-derived yields. The same month, Grayscale Investments launched a staking-enabled Solana spot ETF in the US.
US regulators have approved several Solana staking ETFs, but continue to ban liquid staking products from the domestic market.
In July, Zito Labs, along with asset managers VanEck and Bitwise, urged the US Securities and Exchange Commission to allow liquid stakes in Solana ETPs, arguing that it could improve capital efficiency and reduce operational rebalancing.
About a month later, VanEck applied for a US-listed ETF that would hold Zitosol. At the time of writing, the ETF had not been approved.
Zeeto Labs CEO Lucas Bruder told Cointelegraph that the company expects ZeetoSOL-based products to gain approval in the US and is seeing increasing interest from markets in Asia and the Middle East.
“The path forward depends on continued education about the advantages of digital assets, proof-of-stake mechanics, and Solana’s infrastructure,” Bruder said.
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