VanEck Adds Staking Rewards to Solana Investment Product in Europe

As VanEck’s Solana ETN begins offering investors passive income in the EU, the asset manager awaits input on an application in the U.S.

Listed on the Euronext Amsterdam stock exchange in the Netherlands, the $74 million product will now accrue Solana rewards that are reinvested daily, the firm said. Dubbed the VanEck Solana ETN, the change represents a new form of passive income for the fund’s investors.

Every day, Solana staking rewards will be reflected in the ETN’s net asset value, VanEck said. As those rewards are reinvested, the payouts from delegated Solana will be reflected in an increased amount of SOL that each share accounts for, the asset manager added.

On staking rewards, VanEck said that it will charge investors a 25% fee (!). The decision follows a similar switch flipped in April, enabling exposure to Ethereum staking rewards on VanEck’s Ethereum ETN. In the United States, staking rewards for crypto ETFs haven’t yet been approved by the Securities and Exchange Commission (SEC).