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 TVL
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.