BlockBeats News, July 31st, Jito Labs, Bitwise, Multicoin Capital, VanEck, and Solana Policy Institute submitted an open letter to the U.S. Securities and Exchange Commission (SEC) on July 31st, proposing the use of Liquidity Staking Tokens (LST) as a collateral mechanism in Exchange-Traded Products (ETPs). The proposal specifically targets the 8 Solana ETF applications submitted earlier in June and additional applications submitted on June 25th.