Acting before the US SEC regarding spot Ethereum ETFs, Hong Kong is preparing to add the staking feature to Ethereum ETFs.
Speaking to DL News, Vivien Wong, partner at ETF issuer HashKey Capital, announced that the staking feature in ETH ETFs will be launched in Hong Kong soon.
“As soon as spot Ethereum ETFs were approved in the US, people ran to us asking, ‘Are you planning to launch an ETH staking product?’ they asked.
Wong stated that he conveyed the demand of the market and investors for staking products to the Hong Kong Securities and Futures Commission and stated that they will submit a detailed proposal soon.
“Last month I sent a message to regulators saying there was a need for Ethereum staking. Without hesitation they said ‘ok, please send a detailed proposal.’
While existing spot Ethereum ETFs allow investors to easily invest in Ethereum through accounts, they do not allow them to earn extra returns because there is no staking feature.
They can earn extra income if they do stragging.
However, it will likely take around six months for a new Ethereum product to be released that includes staking.”
HashKey Capital partner Vivien Wong recently said that other cryptocurrencies other than Ethereum (ETH) may one day have their own ETFs, but the options are not yet clear.
According to Wong, for Hong Kong regulators to approve new crypto ETFs, the relevant altcoin must be publicly tradable through registered virtual asset trading platforms.
Wong noted that HashKey Capital is actively collaborating with regulators to offer more innovative products, potentially including a Solana (SOL) ETF.
Referring to tokens issued on the Ethereum network, Wong said:
“ERC-20 tokens may be preferred as ETF candidates. Some names such as Chainlink or Uniswap.
And the Solana ETF may be among the plans.
We are currently negotiating with the SFC. “We continue to launch new products.”
*This is not investment advice.