Hong Kong is taking an important step in the cryptocurrency world and plans to add staking features to Ethereum ETFs. This development may increase interest in Ethereum and reinforce investors' confidence in cryptocurrencies. ETF issuers such as HashKey Capital are working to bring this new feature to the market. Additionally, HashKey Capital is known to be planning ETFs based on other cryptocurrencies such as Solana (SOL). This may also affect other popular cryptocurrencies; Because when investors demand ETFs that offer staking features, the value of other assets, such as the LINK coin, may also increase. Here are the details…
HashKey Capital's plan for LINK coin and other cryptos
Hong Kong plans to add staking features to Ethereum ETFs, taking action before the US Securities and Exchange Commission (SEC). This development is exciting news for cryptocurrency investors and could further increase interest in Ethereum. Vivien Wong, partner of HashKey Capital, announced in a statement to DL News that the staking feature will be offered in ETH ETFs in Hong Kong soon. Wong stated the intense demand from investors for staking products after the approval of spot Ethereum ETFs in the USA.
Wong stated that they conveyed the demand of the market and investors for staking products to the Hong Kong Securities and Futures Commission (SFC) and that they will submit a detailed proposal soon. He added that regulators are quite open to this proposal and have emphasized the importance of staking. Current spot Ethereum ETFs allow investors to easily invest in Ethereum through accounts but do not offer staking features. Staking allows investors to contribute to the security of the network and earn rewards while locking up their Ethereum.
What will the new product process be like?
It will likely take around six months for a new Ethereum product to launch. HashKey Capital's plans also include ETFs based on other cryptocurrencies, such as Solana (SOL), Kriptokoin.com reported. Wong noted that ERC-20 tokens could be preferred as ETF candidates, and assets such as Chainlink or Uniswap could also fall into this category. He also announced that a Solana ETF is planned and discussions with the SFC are ongoing.
Hong Kong's addition of staking features to Ethereum ETFs is an important development for cryptocurrency investors. In this way, investors will have the opportunity to earn additional income while investing their Ethereum. HashKey Capital's offering of ETFs based on other cryptocurrencies, such as Solana, could provide new opportunities for investors by increasing diversity in the market.
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