{"id":578258,"date":"2024-09-19T15:42:23","date_gmt":"2024-09-19T15:42:23","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=578258"},"modified":"2024-09-19T15:42:23","modified_gmt":"2024-09-19T15:42:23","slug":"hong-kong-spot-ethereum-etfs-could-receive-approval-for-staking-feature-this-year-blockdaemon-says","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/hong-kong-spot-ethereum-etfs-could-receive-approval-for-staking-feature-this-year-blockdaemon-says","title":{"rendered":"Hong Kong Spot Ethereum ETFs Could Receive Approval For Staking Feature This Year, Blockdaemon Says"},"content":{"rendered":"

Regulators in Hong Kong might approve staking features for spot Ethereum ETFs (exchange-traded funds) this year as the region pushes to become a global crypto hub.<\/span><\/p>\n

That’s according to Blockdaemon’s head of international and vice president Andrew Vranjes, who told The Block in an interview at Token2049 in Singapore that regulators could approve staking for spot Ethereum ETFs “within certain constructs and boundaries.”<\/span><\/p>\n

\"Hong<\/p>\n

Crypto ETF Issuers And Regulators In Hong Kong Are Actively Engaging<\/span><\/h2>\n

Vranjes added that a potential scenario that could play out is one wherein “accredited investors” will be allowed to take part in spot Ethereum ETF staking before the rest of the market. Conversations with crypto ETF issuers and regulators in <\/span>Hong Kong<\/span><\/a> to offer such a solution are ongoing, Vranjes said.<\/span><\/p>\n

“We’re positive because of the level of conversation,” the Blockdaemon<\/a> executive told The Block. “I think we’re closer to the announcement than further away at this stage.”<\/span><\/p>\n

Hong Kong Ethereum ETFs Lag Behind Their US Counterparts<\/span><\/h2>\n

There was a lot of hype around the launch of <\/span>crypto ETFs<\/span><\/a> in Hong Kong. However, their post-launch performance has been underwhelming compared to similar funds in the US.<\/span><\/p>\n

The difference in performance between US and Hong Kong spot Ethereum ETFs is evident in the collective trading volumes recorded by the investment products in each region on Sept. 16. Hong Kong’s three spot Ethereum ETFs recorded a total trading volume of $390K with zero flows<\/span><\/p>\n

\n

Crypto Market Update (19th September) <\/p>\n

– FOMC outcome is 50bp interest rate cut
– Hong Kong may approve Ethereum staking for local spot ETFs
– US spot bitcoin ETFs logged $52.8 mil in net outflows yesterday<\/p>\n

— Market Meditations (@MrktMeditations) September 19, 2024<\/a><\/p><\/blockquote>\n