Hey there, crypto enthusiasts! Exciting news is buzzing from VanEck as they've just rolled out a new staking feature for their Solana Exchange Traded Note (ETN) across Europe. And guess what? You get to keep complete control over your staked assets—no middleman needed! That's what we call having your cake and eating it too.
With a whopping $73 million in assets under its belt, the Solana ETN, affectionately known by its ticker VSOL, is set to let investors dive into staking rewards. These rewards don't just sit there; they're reinvested daily, giving your investment that extra boost. Talk about making your money work for you!
Mathew Siegel, VanEck's digital asset guru, dropped this announcement on October 21 via X, sparking excitement all around. According to Siegel, these rewards are baked right into the End-of-Day Net Asset Value (NAV) of the ETN, ensuring you can cash in whenever you want. It's all about that sweet, sweet liquidity!
What's cool is the staking process is totally non-custodial. You keep your hands firmly on those precious SOL tokens, without the risk of them being whisked away in some lending scheme. It's like having your treasure chest and guarding it too!
And here's the kicker: you don’t have to lift a finger. Rewards are automatically added to your investment, no matter when you hopped on the VSOL train. But, fair warning, VanEck will be taking a 25% slice of those rewards as a staking fee. Hey, they've got to keep the lights on, right?
The whole operation involves delegating Solana tokens to an external staking provider. These guys earn various rewards on a regular basis, and yet, your SOL stays snug and secure in cold storage. Once rewards roll in, they're reinvested faster than you can say “crypto boom,” and reflected in the ETN's performance.
VanEck promises to tweak the staking activity as needed to keep it as flexible and redeemable as a yoga master. And while they’re at it, they're also eyeing a Solana exchange-traded fund (ETF) in the U.S., ready to jump through hoops with regulators to make that dream a reality.
So there you have it, folks! VanEck is making waves in the crypto world, and you might just want to ride this one. Stay tuned!
