VanEck Europe ComplianceSolana ETN now supports stake function

BlockBeats news, on October 21st, according to the official announcement, asset management company VanEck announced that its Solana exchange-traded notes (ETNs) launched in Europe now support the stake function. VanEck’s stake method is completely non-custodial, meaning that the custodian of the ETN assets always fully controls the staked assets, without any lending risk involved. Investors in Solana ETNs do not need to take any action, and if there are rewards, they will be credited to the Token equity of the ETNs. Regardless of whether the custodian purchased the ETNs last year or just last week, the total stake rewards obtained in the last period will be equally distributed (excluding the 25% stake fee). VanEck directs the custodian to use the physical SOL held by the ETNs for staking and delegates the SOL to validators. ValidatorsNodes are owned and maintained by the stake service provider, but the delegated SOL is always controlled by the custodian. BlockBeats Note: ETNs are usually issued by Financial Institutions, promising to pay investors a return linked to the performance of a certain Benchmark asset (such as an index, commodity, or Digital Money) at maturity.