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 Ethereum spot ETF, hoping 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 “staking Ethereum (ETH),” and the possibility of staking being approved in Asia before the United States is “almost an inevitable outcome.” Siu also mentioned that HashKey, which manages two spot ETFs in Hong Kong in partnership with Bosera Funds, is developing a proposal to introduce Ethereum 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 currently 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: Ethereum spot ETF issuers cancel staking plans may reduce attractiveness of such funds.”
