{"id":22229,"date":"2024-06-07T18:00:32","date_gmt":"2024-06-07T15:00:32","guid":{"rendered":"https:\/\/coinengineer.io\/?p=22229"},"modified":"2024-06-07T15:46:43","modified_gmt":"2024-06-07T12:46:43","slug":"hong-kong-may-allow-staking-for-spot-ethereum-etfs-later-this-year-animoca-co-founder","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/hong-kong-may-allow-staking-for-spot-ethereum-etfs-later-this-year-animoca-co-founder\/","title":{"rendered":"Hong Kong May Allow Staking for Spot Ethereum ETFs Later This Year: Animoca Co-Founder"},"content":{"rendered":"

Animoca Brands President Yat Siu said it would make sense for Hong Kong to introduce staking for spot ether<\/a> exchange-traded funds (ETFs) later this year.<\/p>\n

Sources within the industry have stated that asset managers and potential issuers of existing spot ether ETFs are exploring the possibility of staking rewards.<\/p>\n

HashKey, which co-manages a spot ether<\/a> ETF in Hong Kong, is preparing a draft proposal to study staking, an official said.<\/p>\n

Animoca Brands President Yat Siu noted that Hong Kong asset managers are working to include staking in spot ether exchange-traded funds in the hope that the staking reward feature will be approved this year.<\/p>\n

Siu said in an interview with The Block that Hong Kong is \u201cnow in talks for Ethereum staking\u201d and that it is \u201calmost a foregone conclusion\u201d that staking will be approved in Asia before the US.<\/p>\n

\u201cAs far as how fast it’s going to happen, there’s an optimistic part of me that wants it to be within this year,\u201d Siu said. \u201cIf there isn’t a lot of movement on staking this year, I would say the election outcome will be the other determining factor in how quickly that can happen in the US.\u201d<\/p>\n

HashKey co-manages two spot bitcoin and ether ETFs with Bosera in Hong Kong and is preparing a proposal to introduce ether staking. \u201cWe have created a plan to win the rewards without increasing the risks,\u201d said Livio Weng, CEO of HashKey Exchange, adding that further details are being discussed and cannot yet be revealed.<\/p>\n

\u201cWe hope to advance some research in this area [ether staking] in a compliant and controlled way, without increasing risks,\u201d Weng said.<\/p>\n

Blockdaemon, a blockchain infrastructure provider, is in talks with Hong Kong ETF issuers and custodians to explore the possibility of offering staking services, said Glenn Woo, Blockdaemon’s head of APAC sales.<\/p>\n

\u201cBased on my conversations with participants, issuers, VATPS [and] custodians this week and last week, I can say that we have a positive outlook on the approval of ether staking,\u201d Woo said.<\/p>\n

\n

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0Telegram,\u00a0<\/strong><\/a>YouTube<\/strong><\/a>,\u00a0and\u00a0Twitter<\/strong><\/a>\u00a0channels for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Animoca Brands President Yat Siu said it would make sense for Hong Kong to introduce staking for spot ether exchange-traded funds (ETFs) later this year. Sources within the industry have stated that asset managers and potential issuers of existing spot ether ETFs are exploring the possibility of staking rewards. HashKey, which co-manages a spot ether<\/p>\n","protected":false},"author":6,"featured_media":21619,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,2],"tags":[1627,5423,6700,1000,6702,6701],"class_list":["post-22229","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-news","tag-eth-etf","tag-ether-etf","tag-ether-staking","tag-ethereum-etf","tag-ethereum-etf-staking","tag-ethereum-staking"],"yoast_head":"\nHong Kong May Allow Staking for Spot Ethereum ETFs Later This Year: Animoca Co-Founder - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Animoca Brands President Yat Siu said it would make sense for Hong Kong to introduce staking for spot ether exchange-traded funds (ETFs) later this year.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/hong-kong-may-allow-staking-for-spot-ethereum-etfs-later-this-year-animoca-co-founder\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hong Kong May Allow Staking for Spot Ethereum ETFs Later This Year: Animoca Co-Founder - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"Animoca Brands President Yat Siu said it would make sense for Hong Kong to introduce staking for spot ether exchange-traded funds (ETFs) later this year.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/hong-kong-may-allow-staking-for-spot-ethereum-etfs-later-this-year-animoca-co-founder\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-06-07T15:00:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-06-07T12:46:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/05\/ethereum-etf-1-1024x538-1.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"538\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/hong-kong-may-allow-staking-for-spot-ethereum-etfs-later-this-year-animoca-co-founder\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/hong-kong-may-allow-staking-for-spot-ethereum-etfs-later-this-year-animoca-co-founder\/\",\"name\":\"Hong Kong May Allow Staking for Spot Ethereum ETFs Later This Year: Animoca Co-Founder - 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