US SEC Crypto Panel Meets with Jito Labs and Multicoin Capital Representatives on Introducing Staking Functionality into ETPs

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according to the SEC meeting memorandum document, on February 5, 2025, the staff of the Cryptocurrency Special Action Group met with representatives from Jito Labs and Multicoin Capital Management to discuss two main topics:

1. The feasibility of incorporating staking functionality into Exchange Traded Products (ETPs);

2. Staking model schemes for specific cryptocurrency ETPs.

Incorporating staking functionality into ETPs will benefit investors, more accurately reflect the value of native network assets, and allow issuers to support the security of the assets on the network. There are at least two feasible paths for staking models:

1. Allowing some assets in the ETP to be staked through validation node service providers, while ensuring timely redemption;

2. Introducing liquidity staking tokens (LST) (such as staking tokens JitoSOL corresponding to the native asset SOL on the Solana blockchain), enabling all native assets to be staked.

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