- VanEck’s Solana ETN now supports staking, with rewards automatically reflected in daily NAV
- Investors benefit without managing the staking process themselves, increasing accessibility
- Built on Solana’s Delegated-Proof-of-Stake system, the feature adds liquidity and value to the ETN
The asset management company VanEck announced yesterday, Monday, October 21, that its Solana exchange-traded note (ETN), launched on the European market, has successfully enabled staking functionality.
The assets under management (AUM) of the ETN is $73 million. The staking rewards will be automatically included in the equity of the ETN token and will reflect in the daily net asset value (NAV).
The staking function is built on Solana’s Delegated-Proof-of-Stake (DPoS) mechanism, where validators stake tokens and secure the network.
VanEck launches daily staking rewards for the Solana ETP: a turning point for investors? The head of digital asset research at VanEck, Matthew Sigel, shared the news today on X.
The rewards automatically reflect the daily net asset value (NAV) of the product.
Investors will be able to benefit from the recently launched feature without having to manage the process themselves. Sigel emphasized that the company will manage the exposure of the Solana ETP to maintain daily liquidity.
Conclusion
In conclusion, VanEck’s move to integrate staking into its Solana ETN is a clear win for investors looking for both convenience and rewards. With daily staking yields automatically factored in, it’s one less thing to manage while maximizing gains.
Could this be a game-changer for Solana holders in Europe?
Time will tell, but it certainly feels like a step forward.
What’s your take on this new development?
