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 to introduce staking into their Ethereum spot ETF, with hopes of approval for staking rewards functionality later this year.
In an interview with The Block, Siu 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 certainly inevitable.” Siu also mentioned that HashKey, which manages two spot ETFs in Hong Kong in collaboration with Bosera Funds, is developing a proposal to introduce Ethereum staking. HashKey Exchange CEO Livio Weng stated, “We have devised 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 cannot 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: Cancellation of staking plans by Ethereum spot ETF issuers may reduce attractiveness of such funds”
