According to a report from “The Block,” Yat Siu, 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, said that Hong Kong is “currently discussing Ethereum (ETH) staking,” and the possibility of staking being approved in Asia before the United States is “almost an expected outcome.” Siu also mentioned that HashKey, jointly managing two spot ETFs in Hong Kong with Bosera Funds, is developing a proposal to introduce Ethereum staking. Livio Weng, CEO of HashKey Exchange, stated, “We have devised a plan to earn rewards without increasing risk.” He added that more undisclosed details are being discussed.
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 not currently), the possibility of staking rewards could give Hong Kong’s similar fund products a competitive advantage.
Related report: “Market experts: Ethereum spot ETF issuers canceling staking plans may reduce attractiveness of such funds.”
