SEC says native staking is not a security. A staked Solana ETF Is now within reach.

Big win for staking this week!

On May 29, the U.S. Securities and Exchange Commission (SEC) made it official: protocol staking on public proof-of-stake networks is not a securities transaction.

That’s the kind of clarity the crypto industry has been waiting for. No legal ambiguity. No buried caveats. Just a straightforward statement that staking tokens directly with validators, using native protocol mechanics, is not the same thing as offering or trading securities.

For Solana, and for the proposed Staked Solana ETF powered by Marinade, this is a significant moment.

What the SEC Actually Said

The SEC’s statement draws a sharp line between protocol staking and more complex staking models. When SOL is staked directly through the protocol — whether through self-staking, a non-custodial wallet, or a custodian that simply delegates — it does not fall under securities laws.

The statement specifically excluded liquid staking, restaking, and other variants. These models remain outside the scope of the current guidance and may be addressed separately.

This distinction confirms that protocol staking is on solid regulatory ground, while liquid staking remains outside the scope of current guidance.

Why This Matters for the Staked Solana ETF

Staking has always been a core part of Solana’s design. It is what gives SOL its security and value. So when the first U.S.-filed Solana ETF proposed to include staking, the big question was whether that component would create regulatory friction.

Now we know it won’t.

The proposed ETF stakes SOL through Marinade using native protocol delegation. No wrapped tokens. No synthetic yield instruments. Just straightforward participation in Solana’s validator set, with rewards earned transparently and on-chain.

That setup aligns directly with the SEC’s newly clarified position. One of the biggest unknowns for the ETF has now been resolved, which significantly improves its path toward approval.

Marinade Was Built for This

Since launch, Marinade Native has focused on building staking infrastructure that remains fully aligned with the protocol. Trustless, non-custodial, and transparent by design.

Marinade Select, the institutional-grade staking solution, is built for partners who require validator performance, predictability, and operational simplicity. Validators are curated. Funds remain under the user’s control. There is no rehypothecation or additional token layers.

This approach is the reason Marinade was selected to power the staking component of the proposed Solana ETF.

When regulators describe what compliant staking should look like, it closely resembles Marinade’s current model.

What’s Next

The SEC’s decision on the Solana ETF is expected later this year. In the meantime, the Marinade team will continue to support institutions and builders who want to stake SOL the right way — securely, simply, and directly with the network.

For teams building Solana-native products, or those integrating institutional staking, Marinade is ready to help.

Stay in the Loop

🗞️ Read the ETF partnership announcement
marinade.finance/blog/marinade-named-exclusive-staking-provider-for-us-solana-etf

🔍 Explore Marinade Select — institutional-grade staking built for Solana
marinade.finance/features/marinade-select

🐦 Follow Marinade on X for updates and ecosystem news
@marinadefinance