According to The Block, Yat Siu, the founder and chairman of blockchain gaming company Animoca Brands, stated that asset management firms in Hong Kong are working to introduce staking into their Ethereum spot ETF, hoping that staking rewards 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 foreseeable outcome.” Siu also mentioned that HashKey, which manages two spot ETFs in Hong Kong in collaboration with Bosera Funds, is working on a proposal to introduce Ethereum staking. Livio Weng, the CEO of HashKey Exchange, stated, “We have developed a plan to earn rewards without increasing risk.” He added that more undisclosed details are still under discussion.
As 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 potential for 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.”
