Key Takeaways
- • Jito Foundation and Hanwha Asset Management signed a Memorandum of Understanding on February 23, 2026, to develop JitoSOL-backed exchange-traded products (ETPs) in South Korea, targeting institutional investors including retirement pension funds.
- • Hanwha Asset Management, South Korea's oldest ETF issuer with approximately 6.4 trillion Korean won ($4.44 billion) in assets under management, will integrate JitoSOL's dual-yield mechanism—combining standard staking rewards with maximal extractable value (MEV) rewards—into regulated financial products.
- • The partnership encompasses technical integration of JitoSOL into ETP structures, validation of custody solutions, risk management framework development, and regulatory coordination with South Korean authorities ahead of the country's Digital Asset Basic Act.
- • The deal positions Hanwha and Jito Foundation to capitalize on South Korea's emerging regulatory framework for digital assets, following similar launches globally: 21Shares launched the Jito Staked SOL ETP (JSOL) on Euronext in January 2026, and VanEck filed for a JitoSOL ETF with the SEC in August 2024 (status pending).
- • The partnership demonstrates accelerating institutional adoption of Solana liquid staking infrastructure, as regulatory clarity, custody validation, and established financial institutions converge in major markets.
Summary
Hanwha Asset Management, one of South Korea's largest financial institutions and the country's oldest ETF issuer, has entered into a strategic partnership with the Jito Foundation to develop exchange-traded products backed by JitoSOL, a liquid staking token on the Solana blockchain. The Memorandum of Understanding, announced February 23, 2026, marks a significant step in bringing institutional-grade digital asset products to the South Korean market.
The collaboration targets the technical and regulatory infrastructure necessary to launch JitoSOL-based ETPs compliant with South Korean financial regulations. Choi Young-jin, vice president of Hanwha Asset Management, characterized JitoSOL as "an innovative asset that simultaneously provides high returns and liquidity," positioning it as an attractive diversification vehicle for retirement pension investors. The asset's dual-yield structure—combining standard Solana staking rewards with MEV (maximal extractable value) rewards—represents a key differentiator that the partnership aims to integrate into ETP formats suitable for institutional deployment in South Korea.
The scope of work outlined in the MOU includes technical integration of JitoSOL into ETP structures, validation of regulated custody solutions through qualified digital asset custodians, establishment of risk management frameworks, and ongoing coordination with South Korean regulatory authorities on compliance requirements. With Hanwha managing approximately 6.4 trillion Korean won ($4.44 billion) in assets under management as of mid-2025, the firm brings substantial institutional capacity and market credibility to the initiative.
This partnership reflects a broader institutional adoption curve for Solana liquid staking infrastructure globally. In January 2026, 21Shares launched the Jito Staked SOL ETP (JSOL) on Euronext, while in the United States, VanEck submitted an S-1 registration statement to the SEC in August 2024 for a JitoSOL ETF—a filing that remains pending. South Korea's anticipated Digital Asset Basic Act is expected to establish formal regulatory frameworks permitting domestic financial institutions to launch cryptocurrency ETPs, positioning early movers like Hanwha to capture institutional demand as regulatory clarity solidifies.
The collaboration targets the technical and regulatory infrastructure necessary to launch JitoSOL-based ETPs compliant with South Korean financial regulations. Choi Young-jin, vice president of Hanwha Asset Management, characterized JitoSOL as "an innovative asset that simultaneously provides high returns and liquidity," positioning it as an attractive diversification vehicle for retirement pension investors. The asset's dual-yield structure—combining standard Solana staking rewards with MEV (maximal extractable value) rewards—represents a key differentiator that the partnership aims to integrate into ETP formats suitable for institutional deployment in South Korea.
The scope of work outlined in the MOU includes technical integration of JitoSOL into ETP structures, validation of regulated custody solutions through qualified digital asset custodians, establishment of risk management frameworks, and ongoing coordination with South Korean regulatory authorities on compliance requirements. With Hanwha managing approximately 6.4 trillion Korean won ($4.44 billion) in assets under management as of mid-2025, the firm brings substantial institutional capacity and market credibility to the initiative.
This partnership reflects a broader institutional adoption curve for Solana liquid staking infrastructure globally. In January 2026, 21Shares launched the Jito Staked SOL ETP (JSOL) on Euronext, while in the United States, VanEck submitted an S-1 registration statement to the SEC in August 2024 for a JitoSOL ETF—a filing that remains pending. South Korea's anticipated Digital Asset Basic Act is expected to establish formal regulatory frameworks permitting domestic financial institutions to launch cryptocurrency ETPs, positioning early movers like Hanwha to capture institutional demand as regulatory clarity solidifies.
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