According to a report by “The Block,” Yat Siu, the founder and chairman of blockchain gaming company Animoca Brands, stated that asset management firms in Hong Kong are working on introducing staking into their Ethereum spot ETF, hoping that the staking reward feature will be approved this year.
Siu, in an interview with The Block, mentioned that Hong Kong is currently discussing the issue of Ethereum (ETH) staking, and the possibility of staking being approved in Asia before the United States is “almost a predictable outcome.” Siu also mentioned that HashKey, which co-manages two spot ETFs in Hong Kong with Bosera Funds, is developing a proposal to introduce Ethereum staking. Livio Weng, the CEO of HashKey Exchange, stated, “We have formulated a plan to earn rewards without increasing risks.” He added that more undisclosed details are currently under discussion.
Since the U.S. Securities and Exchange Commission (SEC) has explicitly stated that Ethereum spot ETFs are not allowed to have staking functionality (at least for now), the possibility of staking rewards could give similar fund products in Hong Kong a competitive advantage.
Related report: “Market experts: Canceling staking plans for Ethereum spot ETF issuers may reduce attractiveness of such funds.”
