VanEck has launched staking for its Solana ETN in Europe with $73 million in assets. Investors automatically receive rewards included in the daily ETN value.
Matthew Sigel, head of digital research at VanEck, stated that the company uses a non-custodial approach, where SOL tokens are delegated to a validator via a custodian, remaining in cold storage for security. Staking rewards are added to the net asset value (NAV) every day.
VanEck has also implemented a dynamic risk model to ensure liquidity, considering Solana’s shorter epochs compared to Ethereum.