Hong Kong Regulators May Approve Staking for Spot Ethereum ETFs This Year

According to a report from The Block, a Blockdaemon executive has stated that Hong Kong regulators may approve staking features for the highly anticipated spot Ethereum ETFs later this year. The region is actively pushing to become a cryptocurrency hub.

Andrew Vranjes, Blockdaemon's International Head and Vice President, revealed that his team is working closely with Hong Kong-based spot cryptocurrency ETF issuers to discuss viable staking solutions with local regulators.

Vranjes indicated that the team has made progress, and regulators may approve staking features "within a certain framework and boundaries."

Vranjes further added, "We'll see how the market develops. There may be a model where perhaps qualified investors and above have that option first. It might develop that way and be phased in over time."