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

Hanwha Asset Management, a South Korean financial institution, has partnered with the Jito Foundation to develop exchange-traded products (ETPs) backed by JitoSOL, a liquid staking token on the Solana blockchain.

The partnership aims to bring these products to market in South Korea and focuses on building technical and regulatory infrastructure. 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.

This deal follows similar moves in other markets, including the launch of the Jito Staked SOL ETP (JSOL) on Euronext by 21Shares in January. In the United States, VanEck filed an S-1 registration with the SEC in August 2024 for a JitoSOL ETF, which 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.