thedefiant.io
Institution-focused liquid staking platform Liquid Collective has experienced significant growth over the past three months, with its total value locked (TVL) increasing by another 30% after integrating Solana last week.
The DeFi protocol’s TVL is up 550% to $1.36 billion from just $200 million at the beginning of April, attracting another $300 million after introducing liquid staked $SOL (LsSOL) on July 16.
Liquid Collective enables users to stake assets for its Ls receipt tokens, similar to other liquid staking protocols, such as Lido, but with a focus on institutional clients.
LsSOL aims to offer a compliant liquid staking solution for institutions and exchange-traded products (ETPs), which are expected to enable further staking integrations throughout the rest of the year, following Nasdaq's filing to add staking to BlackRock’s iShares $ETH ETF on Thursday.
Liquid Collective currently has roughly $1.1 billion worth of $ETH and $250 million of $SOL staked on its platform.
For now, there is only one live Solana ETP, the REX Shares $SOL Staking product; however, other BTC and $ETH ETF issuers, such as Grayscale, VanEck, and Invesco, are working with the Securities and Exchange Commission (SEC) to launch their own $SOL ETFs this year.