Hanwha Asset Management, Jito Foundation to cooperate on liquidity staking ETP infrastructure

Hanwha Asset Management said on the 23rd that it has signed a strategic partnership with the Jito Foundation, a leading player in the Solana ecosystem, to build infrastructure for liquidity staking-based ETPs (exchange-traded products). Choi Young-jin, vice president of Hanwha Asset Management, and Brian Smith, chairman of the Jito Foundation, recently met at Hanwha Asset Management’s headquarters in the 63 Building in Yeouido, Seoul, to discuss cooperation measures for future business development.

The partnership aims to foster technical and institutional cooperation to design regulated products in Korea as well—similar to the “21Shares Jito Staked SOL ETP (JSOL),” which was listed on Euronext in Europe in January.

Specific areas of cooperation include: ▲technical integration of JitoSOL within the ETP structure ▲validation of a regulation-compliant custody solution ▲joint development of educational and marketing content ▲establishment of a risk management framework ▲regulatory compliance communications with relevant authorities. In particular, the two sides plan to focus on stably incorporating JitoSOL’s distinctive dual-yield structure—combining staking rewards with MEV (Maximal Extractable Value) rewards—into Korea’s investment environment.

In global markets, launches of JitoSOL-based financial products are continuing. In Europe, the JSOL ETP, jointly launched by global crypto ETP issuer 21Shares and the Jito Foundation, is being traded through traditional financial infrastructure. In the U.S., asset manager VanEck has filed an S-1 registration statement for a JitoSOL ETF (exchange-traded fund).

In Korea as well, the institutional framework for virtual assets is being put in place in phases—one reason Hanwha Asset Management is focusing on liquidity staking. JitoSOL is the largest liquidity staking token on the Solana network, with a market capitalization of about $1.1 billion.

“Jito is a foundation leading the Solana-based liquidity staking space,” Choi said, adding that “JitoSOL is an innovative asset that offers both high income returns and liquidity.” He added that it “will be an attractive alternative asset for retirement pension investors seeking to diversify their portfolios.”

Smith said, “Hanwha Asset Management is a dynamic partner that not only established Korea’s first dedicated digital asset team, but is also reshaping the market through its ‘PLUS’ ETF brand,” adding that “its experience successfully establishing regulation-based investment products in the Korean market will be the optimal bridgehead for JitoSOL’s entry into Korea’s regulated financial system.”

Reporter Lee Min-jae tobemj@wowtv.co.kr