🟪 Just in case
If you were busy on Wednesday, we got you covered
This week, Blockworks hosted the Jito Q1 2026 quarterly call.
The dominant story of Q1 for Jito was continued adoption of the Block Assembly Marketplace (BAM). BAM's stake share grew from 14.0% to 28.1%, with the validator count up 56% to 363 and SOL staked to BAM rising from 59.2M to 119.3M ($9.83B). Combined with the Jito-Solana client, Jito's block-building stack runs on roughly 60% of network stake, compared to Harmonic's 16.8%.
On the financial side, Jito generated $2.33M in protocol revenue and processed $19.85M in gross tips across 1.04B transactions. Revenue declined QoQ in USD terms, reflecting lower SOL price and reduced on-chain activity versus Q4 2025. TipRouter's share of protocol revenue rose from 19.4% to 23.1%, while epoch fees remained the largest stream at $836K (35.8%).
JitoSOL TVL was $1.02B with a 30-day implied APY of 8.03%. Market share among Solana LSTs was 19.2%, down from 21.8% at the start of the quarter, though it remains the largest standalone LST. Supply declined 14.8%, which the report attributes to the SOL price drop and competitive pressure from Sanctum-issued LSTs.
Institutional distribution continued to build out. 21Shares launched the JSOL ETP on Euronext in January (ending Q1 at $582K AUM), Hanwha Asset Management signed an MOU in February to develop a JitoSOL ETP for South Korea, and VanEck's JitoSOL ETF entered SEC review on March 10.
On the tokenomics side, 9.71M JTO was burned in Q1, bringing cumulative burns to 13.48M. Buybacks were paused under JIP-31 to redirect revenue toward BAM adoption incentives.
Topics for Wednesday's call included the BAM plugin pipeline (Maker Priority Plugin launched late April), the JTX launch (unveiled May 5, early June launch), the VanEck ETF review, and the JIP-33 Coinbase collaboration.
Check out the call recording, download the report, and access the transcript at Blockworks.com.
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