VanEck has enhanced its Solana exchange-traded note (ETN) in the European market by offering staking rewards, allowing investors to gain passive income. Launched on the Euronext Amsterdam stock exchange, this product—valued at $74 million—will now reinvest daily accrued Solana rewards, which will increase each share's value. This initiative follows a similar move for VanEck's Ethereum ETN. While investors in the EU can benefit from staking, the U.S. SEC has not yet approved staking rewards for crypto ETFs, meaning VanEck's proposed spot Solana ETF will not include these benefits. In 2024, Solana has outperformed other cryptocurrencies in investment inflows, attracting $58 million, a positive indicator for its upcoming products. VanEck sees more flexibility in the EU regulatory framework for asset management compared to the U.S., which could influence future developments depending on political shifts, such as the outcome of the upcoming presidential election.

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