According to a recent report from The Block on September 19, there is anticipation that Hong Kong regulators could approve the staking function for the much-awaited spot Ethereum ETF within this year. This development is a part of Hong Kong’s ongoing efforts to establish itself as a hub for cryptocurrency activities. Blockdaemon’s International Head and Vice President, Andrew Vranjes, indicated that his team is in active discussions with local regulators and spot cryptocurrency ETF issuers in Hong Kong to create practical staking solutions.
Vranjes revealed that discussions have been progressing well, and there is optimism that the staking function could receive approval “within a specific framework and boundaries.” He further elaborated that the initial implementation might be limited to qualified investors, evolving over time. This strategic move could pave the way for a more structured and regulated environment for cryptocurrency staking within the region.