According to a report from “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 Ether (ETH) spot ETF, with hopes that the 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 Ether staking, and the possibility of staking being approved in Asia before the United States is “almost an expected 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 Ether staking. Livio Weng, the CEO of HashKey Exchange, stated, “We have devised a plan to earn rewards without increasing risks.” He added that more undisclosed details are still under discussion.
Since the U.S. Securities and Exchange Commission (SEC) has explicitly stated that Ether spot ETFs are not allowed to have staking functions (at least not currently), the potential for staking rewards could give similar fund products in Hong Kong a competitive advantage.
Related report: “Market experts: Ether spot ETF issuers canceling staking plans may reduce attractiveness of such funds.”
