Liquid Collective offers institutions Solana liquid staking token LsSOL in anticipation of spot SOL ETF approvals

The Block

2025-07-16 21:00:00

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The enterprise-grade liquid staking platform Liquid Collective launched a Solana-based institutional-focused liquid staking token Liquid Staked SOL (LsSOL).

The liquid staking token (LST) aims to meet demand from institutions and exchange-traded product (ETP) providers as spot Solana exchange-traded funds (ETFs) are likely to gain federal approval sometime within the next few months.

Crypto firms Anchorage Digital, Coinbase, Fireblocks, Galaxy, and Kraken are providing day-one support as well as institutional access for LsSOL, according to a release shared with The Block.

"With the REX-Osprey staking ETF already live and over 7 spot ETF filings underway, its clear institutional demand for SOL is accelerating. But the infrastructure to turn SOL into a productive, liquid, institution-friendly asset isn’t there yet. LsSOL fills that gap in this market," Alluvial co-founder and CEO Mara Schmeidt told The Block in an email. "It’s the first institutional-grade, purpose-built liquid staking solution for ETP providers, structured products and corporate treasury managers on Solana."

The new Solana-focused liquid staking token follows the launch of Liquid Collective's LsETH token on June 17, providing institutional exposure to liquid staking for Ethereum.

While the REX-Osprey SOL ETF (SSK) began trading on July 2, offering both direct exposure to Solana and staking rewards to investors, six other spot Solana ETFs await approval from the U.S. Securities and Exchange Commission, according to The Block's Solana ETF Tracker.

Both LsSOL and LsETH launched after the SEC ruled that staking activities does not entail creating a new security or investment contract on May 29, which some legal experts viewed as paving the way for ETFs to include staking-related products, The Block previously reported.

The software development firm Alluvial, which oversees the Liquid Collective, launched the enterprise-focused liquid staking platform in September 2022 in collaboration with Kraken, Kiln, BENQI, Rome Blockchain Labs and Acala Foundation and other players in an independent industry consortium.

Liquid staking maintains $58.1 billion in total value locked as of July 14, according to The Block's Data Dashboard.

Solana is the sixth-largest cryptocurrency by its market capitalization of $87.9 billion, according to The Block's SOL Price Page.

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