Spot Ethereum ETFs could see staking options in Hong Kong as early as this year

Staking for spot Ethereum ETFs might be approved in Hong Kong by the end of this year

Crypto News– Hong Kong asset managers are working diligently to incorporate staking into their spot ether exchange-traded funds (ETFs), with hopes of gaining approval for the staking reward feature by the end of this year, according to Animoca Brands Chairman Yat Siu.

What Gives Hong Kong Its Competitive Edge?

Despite the initial excitement surrounding spot crypto ETFs in Hong Kong, their performance has been lackluster compared to their U.S. counterparts.

On Thursday, the three spot bitcoin ETFs in Hong Kong recorded a total daily trading volume of $6.08 million, following $2.24 million on Wednesday and $1.96 million on Tuesday, according to The Block’s dashboard. In stark contrast, the 11 spot bitcoin ETFs in the U.S. saw a total trading volume of $1.42 billion on Thursday, after $2.09 billion on Wednesday.

Yat Siu of Animoca Brands commented, I agree with the premise that Hong Kong should be able to attract more interest because it can draw buyers from both the East and the West. However, it must remain competitive. The pricing needs to be at least on par with, if not lower than, its U.S. counterparts.

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