Jito Foundation, a cryptographic protocol that supports the Solana blockchain has raised $50 million in a private token sale led by Andreessen Horowitz’s a16z cryptocurrency, it announced in a press release on Thursday.
The funding will support the foundation’s drive to scale Jito Network’s infrastructure, expand its development tools, and continue to develop liquid staking solutions tailored to Solana’s architecture.
JITO rose around 4% following the news, trading at $1.17 at the time of publication.
At the core of Jito’s operations are two core products: a validator client optimized for Solana’s high-speed network and JitoSOL, a liquid staking token with over $3.2 billion in market capitalization.
Together, they allow Solana users to earn staking rewards while also enabling fast and cost-effective transaction processing.
Backed by a16z, one of the largest venture firms in crypto and an early investor in Solana, Jito plans to grow its open source tools, support new developers, and expand globally. The foundation also aims to leverage its latest infrastructure addition: the Block Assembly Marketplace (BAM), launched in September.
“It’s not just about scaling,” Brian Smith, president of the Jito Foundation, said in the statement. “This is about helping everyone at Solana extract more value while making the network more transparent and programmable.”
The funding also comes on the heels of a VanEck JitoSOL ETF proposal filed with the Securities and Exchange Commission in August. If approved, it would give traditional investors regulated exposure to JitoSOL staking returns, marking a step towards integrating Solana’s native products into mainstream finance.
Ali Yahya, general partner at a16z crypto, said Jito’s role in building foundational tools like BAM puts him in a strong position to lead Solana’s next wave of growth. “Jito is catalyzing the growth of the entire Solana ecosystem,” he said.
