Hanwha Partners With Jito Foundation for Solana Staking ETPs in South Korea

Solana news

South Korea’s Hanwha Asset Management has entered a partnership with the Jito Foundation to develop exchange-traded products (ETPs) backed by JitoSOL, a liquid staking token on the Solana blockchain. The agreement, announced Monday, focuses on building technical and regulatory infrastructure to bring these products to market in South Korea.

JitoSOL combines standard staking rewards with maximal extractable value (MEV) rewards, a dual-yield structure that the partnership aims to integrate into ETP formats suitable for the South Korean market. Hanwha’s vice president Choi Young-jin described JitoSOL as an asset that “simultaneously provides high returns and liquidity,” calling it an attractive option for retirement pension investors looking to diversify.

The scope of the collaboration includes technical integration of JitoSOL into ETP structures, validation of regulated custody solutions, development of risk management frameworks, and coordination with local regulators on compliance requirements. As of mid-2025, Hanwha Asset Management held approximately 6.4 trillion Korean won, equivalent to around $4.44 billion, in assets under management.

The deal follows similar moves in other markets. In January, 21Shares launched the Jito Staked SOL ETP (JSOL) on Euronext. In the United States, VanEck filed an S-1 registration with the SEC in August 2024 for a JitoSOL ETF, a filing that remains pending.

The partnership reflects a broader pattern of South Korean financial institutions building infrastructure ahead of the country’s Digital Asset Basic Act, which is expected to establish formal regulatory frameworks for digital assets and allow domestic institutions to launch crypto ETPs. Disputes over stablecoin issuer eligibility have delayed the act beyond its original 2025 deadline, with regulators pushing for bank-exclusive licensing while industry participants argue that such a model would limit innovation.

Major South Korean financial players have continued preparations regardless, moving to secure the technical and institutional foundations needed to operate once a framework is in place. Hanwha and Jito Foundation’s agreement is part of that wave of early positioning.

Solana’s growing institutional interest, reflected in products like JitoSOL appearing in ETF and ETP filings across multiple jurisdictions, indicates the asset is being considered for inclusion in regulated financial products alongside Bitcoin and Ethereum.

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Source: coinmarketcap.com