The Market Might Be Completely Mispricing Solana

Watch on YouTube ↗  |  August 23, 2026 at 13:00  |  11:24  |  Milk Road Macro
Speakers
Rebecca Rettig — Chief Legal & Policy Officer, Polygon Labs
John Gillen — Co-Host, Milk Road Macro

Summary

Rebecca Rettig, Chief Legal Officer at Jito Labs, discusses how Solana's rising network usage and DEX volume are decoupling from SOL price action. She explains Jito's market-layer infrastructure, including the block engine, JitoSOL liquid staking token, ETF efforts, and JitoX non-custodial trading platform. The main market implications are potential SOL mispricing and institutional adoption of JitoSOL through legal clarity and ETF frameworks.

  • Solana transaction volume and decentralized exchange usage are rising while SOL price remains dislocated.
  • Rebecca argues crypto markets may not yet price utility into token values.
  • Jito built the block engine and the largest Solana stake pool with liquid staking token JitoSOL.
  • JitoSOL has been included in a 1940 Act ETF, and Jito sees further ETF inclusion under new exchange rules.
  • JitoX is a non-custodial on-chain trading interface aimed at bringing institutional-grade infrastructure to retail.
  • The JTO token's role is raised near the end, but the excerpt cuts before an answer.
Ideas
Rebecca Rettig Chief Legal & Policy Officer, Polygon Labs 0:49
Solana usage rising while price lags.
Solana network transaction volume and usage are moving back up, especially in decentralized DEXs and AMMs rather than centralized venues; this is exactly what Solana was built for as internet capital markets. Price has not yet incorporated this utility, so SOL may be mispriced.
SOL HIGH
Rebecca Rettig Chief Legal & Policy Officer, Polygon Labs 3:43
Institutions adopting JitoSOL via ETF clarity.
Jito Labs proactively engaged the SEC and published securities-classification and tax reports arguing JitoSOL is not a security, giving institutions comfort. JitoSOL is already in a 1940 Act ETF, and Jito believes it qualifies under new exchange rules allowing up to 15% other digital commodity in ETFs, supporting further institutional adoption.
JITOSOL HIGH
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815 Money Talk (815머니톡) · Aug 23

This Milk Road Macro video, published August 23, 2026, features Rebecca Rettig discussing SOL, JITOSOL. 2 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Rebecca Rettig  · Tickers: SOL, JITOSOL