Andrew Vranjes, international director and vice president of blockchain infrastructure platform Blockdaemon, said that his team is closely discussing cooperation with Hong Kong crypto ETF issuers and is expected to discuss the launch of a feasible Ethereum spot ETF pledge program with local regulators this year. (Preliminary summary: The scale of Hong Kong’s Bitcoin and Ethereum ETFs is less than 0.5% of the United States. Local exchanges: It will be difficult to turn around if the two major problems are not solved) (Background supplement: Hong Kong’s Bitcoin and Ethereum ETF capital inflows “hang zero for many days” ”, Internet acid: Like a joke) After the U.S. Securities and Exchange Commission (SEC) approved multiple Bitcoin spot ETFs in early January this year, the Hong Kong Securities Regulatory Commission also approved three Boshi, ChinaAMC and Harvest in mid-April. The large fund has applied for a total of 6 Bitcoin and Ethereum spot ETFs. However, compared with the United States, Hong Kong’s Bitcoin and Ethereum spot ETFs have not performed well since their listing. The trading volume on the first day was only HK$87.58 million, which was less than 1% of the US$4.6 billion trading volume of the US Bitcoin spot ETF on the day it was listed. ; In addition, in early August, according to SoSoValue data, the Hong Kong Bitcoin and Ethereum spot ETFs also experienced a situation where the net subscription and net redemption volume were 0 for many days. Note: Although SoSoValue later officially stated that Hong Kong crypto ETF supports cash and physical subscription, since the ETF shares purchased through physical BTC or ETH physical subscription will not generate cash inflow of the asset, it cannot simply be included in the daily net Inflow statistics; but it still cannot change the sluggish trading situation in the Hong Kong market. Hong Kong will approve Ethereum spot ETF staking as soon as this year. However, Andrew Vranjes, international director and vice president of blockchain infrastructure platform Blockdaemon, recently said at the TOKEN2049 event held in Singapore that Blockdaemon is working closely with Hong Kong crypto ETF issuers and is expected to be the soonest. A viable Ethereum spot ETF staking function will be launched this year with local regulators: Hong Kong regulators may approve the staking function under certain conditions. We are positive about this as the current dialogue is relatively ideal. Let's see how the market develops. There may be a model that allows accredited investors to choose. I think we're pretty close to making that announcement at this stage. How are Hong Kong crypto ETFs currently performing? According to the latest data from SoSoValue, as of September 19, Hong Kong’s spot Bitcoin ETF had a single-day net inflow of 15.95 BTC, a total holding of 2,300 BTC, and a capital scale of US$143 million, accounting for only 548.5% of the US Bitcoin spot ETF. 0.26% of US$1 billion. On the other hand, the Hong Kong Ethereum Spot ETF has a total holding of 1,464 ETH and a capital size of US$33.73 million, which is also far lower than the US$6.3 billion of the US Ethereum Spot ETF. Hong Kong Ethereum spot ETF data However, since the US Ethereum spot ETF does not allow staking, whether Hong Kong can bring more profits to users through staking and overtake in a corner deserves our continued attention. Related reports Is Hong Kong’s “Web3 City” a joke? After cryptocurrency ETFs, what is the next killer deal? The current status of the listing of Hong Kong Bitcoin and Ethereum ETFs: an embarrassing child's play for self-entertainment.. The "first day trading volume" of 6 Bitcoin and Ethereum spot ETFs in Hong Kong is 87.58 million The Hong Kong dollar is less than 1% of the US listing. Can the Hong Kong Ethereum spot ETF introduce a staking function as soon as the end of the year to save the sluggish trading volume? 〉This article was first published in DongZu BlockTempo "DongZu DongTen - the most influential blockchain news media".