On October 21st, asset management company VanEck announced that its Solana exchange-traded note (ETN) launched in Europe has now turned on the pledge function. The pledge method used by VanEck is completely non-custodial, which means that the custodian of ETN assets always has full control of the pledged assets and does not involve borrowing risks. Investors in Solana ETN do not need to take any action, and if there are rewards issued, they will be included in the ETN's token equity. Regardless of whether the custodian purchased the ETN last year or last week, the total pledged reward received in the last time period will be distributed equally (minus a 25% pledge fee).