Key Highlights:
- VanEck introduces staking for its $73M Solana ETP, offering investors daily re-invested rewards with zero hassle.
- Solana staking comes with full custody protection and daily liquidity management, making it a dream for passive income seekers.
Paradisers! What if you could sit back, relax, and let your Solana investment quietly grow on autopilot? Well, that’s exactly what VanEck has cooked up for its European investors. In a move that combines convenience with crypto gains, VanEck has enabled staking for its Solana exchange-traded note (ETN), letting you collect rewards daily, without even lifting a finger.
Matthew Sigel, VanEck’s Head of Digital Assets Research, unveiled this little gem on X, highlighting how the staking rewards for the Solana ETN (VSOL) will automatically be re-invested into the product’s net asset value (NAV).
Think of it as your investments quietly working overtime, while you’re busy doing, well, anything else. And no need to worry about liquidity, either. VanEck promises to manage your staking exposure, ensuring daily liquidity, so you’re never left hanging.
Staking Without the Stress
VanEck’s Solana ETP, launched in 2021 on Europe’s Deutsche Börse, has $73.8 million in assets under management as of October 2024. But here’s the kicker: With this new staking feature, you can earn passive rewards without having to micromanage a thing.
VanEck’s custodian holds the staked SOL securely in cold storage, shielding you from lending risks, and everything from reward collection to re-investment happens behind the scenes.
Of course, there’s a small catch: VanEck will deduct a 25% staking fee before adding those sweet gains to your NAV. But hey, when someone else is handling all the heavy lifting, that’s a small price to pay for a no-hassle stream of passive income.
Will Solana continue its rally? And what’s next for VanEck’s plans in the U.S. market? Stay tuned as this passive income juggernaut keeps growing!
