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Good News from Hong Kong for Ethereum (ETH) and Three Altcoins!

Must Read

Performing earlier than the US SEC concerning spot Ethereum ETFs, Hong Kong is getting ready so as to add the staking characteristic to Ethereum ETFs.

Talking to DL Information, Vivien Wong, associate at ETF issuer HashKey Capital, introduced that the staking characteristic in ETH ETFs shall be launched in Hong Kong quickly.

“As quickly as spot Ethereum ETFs have been authorised within the US, folks ran to us asking, ‘Are you planning to launch an ETH staking product?’ they requested.

Wong said that he conveyed the demand of the market and buyers for staking merchandise to the Hong Kong Securities and Futures Fee and said that they are going to submit an in depth proposal quickly.

“Final month I despatched a message to regulators saying there was a necessity for Ethereum staking. With out hesitation they stated ‘okay, please ship an in depth proposal.’

Whereas present spot Ethereum ETFs enable buyers to simply spend money on Ethereum by means of accounts, they don’t enable them to earn further returns as a result of there is no such thing as a staking characteristic.

They’ll earn further earnings in the event that they do stragging.

Nevertheless, it would doubtless take round six months for a brand new Ethereum product to be launched that features staking.”

HashKey Capital associate Vivien Wong lately stated that different cryptocurrencies apart from Ethereum (ETH) might in the future have their very own ETFs, however the choices are usually not but clear.

In line with Wong, for Hong Kong regulators to approve new crypto ETFs, the related altcoin have to be publicly tradable by means of registered digital asset buying and selling platforms.

Wong famous that HashKey Capital is actively collaborating with regulators to supply extra modern merchandise, probably together with a Solana (SOL) ETF.

Referring to tokens issued on the Ethereum community, Wong stated:

“ERC-20 tokens could also be most well-liked as ETF candidates. Some names resembling Chainlink or Uniswap.

And the Solana ETF could also be among the many plans.

We’re at present negotiating with the SFC. “We proceed to launch new merchandise.”

*This isn’t funding recommendation.

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