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, with hopes of gaining approval for staking rewards functionality this year.
Siu, in an interview with The Block, mentioned that Hong Kong is currently discussing the topic of Ethereum (ETH) staking, and the possibility of staking being approved in Asia before the United States is “almost an expected outcome.” Siu also stated that HashKey, which co-manages two spot ETFs in Hong Kong with Bosera Funds, is working on a proposal to introduce Ethereum staking. HashKey Exchange CEO Livio Weng said, “We have developed a plan to earn rewards without increasing risk.” He added that more undisclosed details are being discussed.
As the U.S. Securities and Exchange Commission (SEC) has explicitly stated that Ethereum spot ETFs cannot have staking functionality (at least for now), the potential for 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.”
