Price: $0.38504 2.0694%
Market Cap: 56.56B 1.74%
Volume (24h): 8.06B 0.4%
Dominance: 1.74%
Price: $0.38504 2.0694%
Market Cap: 56.56B 1.74%
Volume (24h): 8.06B 0.4%
Dominance: 1.74% 1.74%
  • Price: $0.38504 2.0694%
  • Market Cap: 56.56B 1.74%
  • Volume (24h): 8.06B 0.4%
  • Dominance: 1.74% 1.74%
  • Price: $0.38504 2.0694%
Home > Information news > Hong Kong Spot Ethereum ETFs Could Receive Approval For Staking Feature This Year, Blockdaemon Says

Hong Kong Spot Ethereum ETFs Could Receive Approval For Staking Feature This Year, Blockdaemon Says

Release: 2024/09/20 06:20 Reading: 443

Original author:Inside Bitcoins

Original source:https://coinmarketcap.com/community/articles/66ec46d9c7d4e0181531df24

Hong Kong Spot Ethereum ETFs Could Receive Approval For Staking Feature This Year, Blockdaemon Says

Hong Kong May Approve Staking for Spot Ethereum ETFs in 2023

Hong Kong regulators are considering approving staking features for spot Ethereum exchange-traded funds (ETFs) this year, as part of the region's efforts to establish itself as a global crypto hub.

Andrew Vranjes, Blockdaemon's head of international and vice president, stated in an interview at Token2049 in Singapore that regulators could approve staking for spot Ethereum ETFs "within certain constructs and boundaries."

Engagement Between Crypto ETF Issuers and Regulators

Vranjes noted that a potential scenario involves allowing "accredited investors" to participate in spot Ethereum ETF staking before the rest of the market. Conversations between crypto ETF issuers and Hong Kong regulators to offer such a solution are ongoing.

"We're positive because of the level of conversation," Vranjes said. "I think we're closer to the announcement than further away at this stage."

Hong Kong Ethereum ETFs Trail US Counterparts

Despite initial hype, the performance of Hong Kong's crypto ETFs has been underwhelming compared to similar funds in the US. On September 16, the three spot Ethereum ETFs in Hong Kong recorded a combined trading volume of $390K, while the nine spot Ethereum ETFs in the US recorded $129 million in trading volumes and $9.5 million in net inflows.

The approval of staking for spot Ethereum ETFs in Hong Kong would provide a competitive advantage for the city's investment products, as the US Securities and Exchange Commission (SEC) has yet to allow US ETH ETFs to offer this feature.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.