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 investors’ confidence in cryptocurrencies. ETF issuers such as HashKey Capital are working to launch this new feature. HashKey Capital’s plans also include ETFs based on other cryptocurrencies, such as Solana (SOL). This may also affect other popular cryptocurrencies such as LINK coin. Because as investors turn to ETFs that offer staking features, the value of LINK coin may also increase. Here are the details…
Hashkey Capital may have plans for LINK coin and those cryptos
Hong Kong is planning to add staking to Ethereum ETFs, ahead of the US Securities and Exchange Commission (SEC). This development is exciting news for cryptocurrency investors and could further increase interest in Ethereum. Speaking to DL News, Vivien Wong, partner at ETF issuer HashKey Capital, announced that the staking feature in ETH ETFs will be launched in Hong Kong soon. Wong stated that after the approval of spot Ethereum ETFs in the USA, investors intensely expressed their demand for staking products.
Wong stated that he conveyed the demand of the market and investors for staking products to the Hong Kong Securities and Futures Commission (SFC) and stated that they will submit a detailed proposal soon. Wong added that regulators are very open to this proposal and indicate that there is a need for staking. While existing spot Ethereum ETFs allow investors to easily invest in Ethereum through accounts, they do not allow them to earn extra returns because there is no staking feature. Staking allows investors to lock up their Ethereum and earn rewards by securing the network.
What will the new product process be like?
It will likely take around six months for a new Ethereum product to launch. As we reported as Kriptokoin.com, HashKey Capital’s plans also include ETFs based on other cryptocurrencies such as Solana (SOL). Wong said that ERC-20 tokens could be preferred as ETF candidates, and names such as Chainlink or Uniswap could also fall into this category. He also stated that the Solana ETF is also among the plans and negotiations with the SFC are continuing.
Hong Kong’s plan to add staking features to Ethereum ETFs is a significant development for cryptocurrency investors. In this way, investors will have the opportunity to earn additional income while investing their Ethereum. ETFs based on other cryptocurrencies, such as Solana, which is among HashKey Capital’s plans, will also increase diversity in the market and provide new opportunities for investors.
To stay up-to-date with the breaking news, follow us on Twitter, Facebook, and Instagram. Join our Telegram and YouTube channel
