As an experienced financial analyst following the developments in the Asian market, I find the recent news regarding the potential integration of staking into Hong Kong’s spot Ether exchange-traded funds (ETFs) to be a noteworthy development. The involvement of key players such as Animoca Brands Chairman Yat Siu and companies like HashKey and Blockdaemon adds credibility to the speculation.
According to Animoca Brands Chairman Yat Siu, Hong Kong’s asset management regulators could give the green light for staking integration into spot Ethereum exchange-traded funds (ETFs) this year. This approval would enable these ETFs to offer staking rewards to investors.
As a researcher studying the latest developments in the cryptocurrency scene, I’ve come across some intriguing news. Yat Siu, a notable figure in the industry, shared in an interview that Hong Kong is currently deliberating on the topic of staking. Notably, he expressed a high degree of confidence that Asia will legalize staking before the United States.
“From an optimistic perspective, Siu hopes the event in question will transpire within a year. However, if there’s limited progress on a related issue within the year, then the outcome of the election would be a significant factor influencing the timeline in the United States.”
HashKey, the Hong Kong-based company responsible for managing Bitcoin and Ethereum ETFs together with Bosera, plans to introduce ether staking as part of their operations. According to CEO Livio Weng, this strategy aims to earn rewards without taking on extra risks, further details will be shared in due course.
Weng expressed their intention to advance research in the field of ether staking, ensuring compliance and maintaining control while minimizing potential risks.
Blockdaemon, a company that offers blockchain infrastructure solutions, is reportedly holding discussions with ETF (Exchange-Traded Fund) issuers and custodians based in Hong Kong regarding the provision of ETF staking services. According to Glenn Woo, who heads sales for APAC (Asia Pacific) at Blockdaemon.
As a analyst, I’ve learned that Blockdaemon is currently holding negotiations with Hong Kong ETF issuers and custodians regarding the provision of staking services for ethereum. According to Glenn Woo, the head of sales for APAC at Blockdaemon, these discussions have yielded a promising perspective on the potential approval of ether staking in the near future.
According to Woo’s observation, industry players plan to endorse the staking feature this year since it’s a crucial component currently lacking. He’s advocating for quick approval, emphasizing that Blockdaemon already supports staking for several European exchange-traded instruments.
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2024-06-07 18:17