Gemini Launches Solana Credit Card as VanEck Files for First Lido Staked Ether ETF

The week began with two major developments in crypto finance, one highlighting deeper integration of blockchain rewards into everyday spending, and the other advancing institutional access to staking yields.

Crypto exchange Gemini has unveiled the Solana Credit Card, expanding its suite of crypto-backed payment products, while investment giant VanEck has filed for the first-ever Lido Staked Ethereum ETF amid a friendlier regulatory climate for liquid staking.

Gemini Introduces Auto-Staking Rewards for Solana Users

Following its successful Bitcoin and XRP credit card offerings, Gemini announced a Solana-themed card that enables users to earn SOL rewards on every purchase, with the option to automatically stake their earnings for additional yield.

The new auto-staking feature allows cardholders to instantly put their earned Solana tokens to work, earning up to 6.77% APY. According to Gemini, the feature will also be available for existing credit card holders across its ecosystem.

“This launch provides the Solana community with a way to showcase loyalty while earning and compounding rewards,” a Gemini representative said.

The Solana Card offers up to 4% crypto-back on gas, electric vehicle charging, and rideshare payments; 3% on dining; 2% on groceries; and 1% on other purchases. Rewards are distributed instantly in crypto.

Gemini cited Solana’s strong developer activity and community engagement as key reasons for launching a dedicated card. The exchange noted that customers who selected Solana as their reward option since 2021 saw gains of roughly 300% when held for at least a year.

The card’s debut follows Gemini’s NASDAQ listing earlier this year, which raised over $425 million in its IPO, showing growing mainstream appetite for crypto-linked financial products.

VanEck Pushes Institutional Staking With Lido ETF Filing

Meanwhile, asset manager VanEck filed with the U.S. Securities and Exchange Commission (SEC) to launch the VanEck Lido Staked Ethereum ETF, a fund designed to track the performance of stETH, the liquid staking token from the Lido protocol.

If approved, the ETF would provide institutional investors with a regulated and tax-efficient way to gain exposure to Ethereum’s staking yields without directly locking up tokens.

“The filing signals growing recognition that liquid staking is now a core part of Ethereum’s infrastructure,” said Kean Gilbert, Head of Institutional Relations at the Lido Ecosystem Foundation. “Lido’s stETH demonstrates that decentralization and institutional standards can coexist.”

The move comes as the SEC, under Chair Paul Atkins, takes a more progressive stance on staking and digital assets through its “Project Crypto” initiative,” aimed at modernizing the agency’s approach to custody, trading, and token distributions.

In recent months, the regulator clarified that certain proof-of-stake and liquid staking activities do not constitute securities transactions, providing a clearer framework for issuers of staking-related financial products.

Yield Meets Compliance

The timing of these two announcements highlights a broader theme in crypto’s evolution: the merging of consumer accessibility and institutional-grade regulation.

While Gemini’s Solana Card brings staking to the retail market through day-to-day spending, VanEck’s ETF proposal opens the door for traditional investors to earn Ethereum staking yields within a compliant structure.