a16z Backs Solana Staking Protocol Jito With $50M
Jito Foundation, the protocol powering Solana (SOL), has raised $50 million in a private token sale led by Andreessen Horowitz’s a16z crypto, the foundation announced Thursday.
The funding will be used to scale Jito Network’s validator technology, expand developer tools, and enhance liquid staking solutions built specifically for Solana. Following the announcement, JITO gained about 4%, trading at $1.17 at press time.
Driving Solana Adoption
Jito’s ecosystem centers on two main products: a validator client optimized for Solana’s high-speed network and JitoSOL, a liquid staking token with a market capitalization exceeding $3.2 billion. Together, these products allow users to earn staking rewards while supporting fast, low-cost transactions on the network.
With backing from a16z, one of crypto’s largest venture firms and an early Solana investor, Jito plans to grow its open-source tooling, onboard new developers, and expand globally. The foundation is also building on its recent Block Assembly Marketplace (BAM) launch in September.
“This isn’t just about scaling,” said Brian Smith, president of Jito Foundation. “It’s about helping everyone on Solana extract more value while making the network more transparent and programmable.”
Linking Crypto With Traditional Finance
The funding comes shortly after a proposed VanEck JitoSOL ETF was filed with the U.S. Securities and Exchange Commission in August. If approved, it would allow traditional investors to access staking yields from JitoSOL, bridging Solana-native products with conventional financial markets.
“Jito is catalyzing growth for the entire Solana ecosystem,” said Ali Yahya, general partner at a16z crypto, highlighting the protocol’s role in developing foundational tools like BAM and driving the next phase of adoption on Solana.
