Huaxia Fund aims to launch staking services in its Ether Exchange Fund (ETF) fund, which makes it the second in Hong Kong. OSL Digital Services (OSL) will provide care infrastructure and a fund.
The Staking function will live on May 15, transferring ETF from a strictly passive investment vehicle to an “active participant” in the Ethereum ecosystem, According to to the announcement of Osl. Huaxia Fund, a subsidiary China Asset Management (Chinaamc), for the first time launched its ETH ETF in April 2024.
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The introduction of the Standing decision will take place after Hong Kong’s Paperieties and Futures Commission (SFC) changed its rules on April 7 to enable entities such as centralized exchanges to offer crypto to set the city as a leader in Web3.
By announcing a change in the rule, SFC said that “he recognizes the potential benefits of increasing the security of the blockchain network and enabling investors to earn.”
Related: Hong Kong Bitcoin, Ether ETFS attracts over USD 200 million on 1
Staking is a process of blocking cryptocurrency tokens to support support the activities and security of the blockchain network. In return, participants win prizes, usually in the form of a larger cryptocurrency.
On April 10, Boser Hashkey was approved as a supplier of stacking in Hong Kong, the first in accordance with the up-to-date rule. According to In a press release, Staking will allow ETF the ETER BOSERY HASKEYA to benefit from a intricate growth, because the performance from the frayed etern can be invested again for a financial instrument.
According to Coinbase, Eth Stakers are now earning About 2.14% of their shares in the 365-day average.
Hong Kong changes the rules to become a hub web3
Ether ETFS was the main topic in the United States. In December 2024, Bernstein Research predicted that the stacking would be approved for Ethe Ether as part of a cryptocurrency genial Trump administration. Since then, CBEE and NYSE have submitted a request to change the rule in the Securities and United States Committee (SEC) in order to take into account the permit to supplement such funds.
Blackrock asset manager noticed that although ETF ETF ETH is less perfect without putting. Staking is perceived as a way to attract more investors to the ETF ether, which can be liable to the possibility of efficiency, which leads to further profits.
Related: The ether increases by 3.5% as cboe, 21 Shares tries to add ETH to ETF
It seems that SFC Hong Kong understands this and works accordingly. Chen Wu, general director of Crypto Exchange ex.IO based in Hong Kong, said Cointelegraph. “The SFC announcement signals that more doors are opening – not only for erecting, but also a wider range of Web3 products to take shape within adjustable and trusted frames,” she said.
Hong Kong has noted an boost of 250% in its Blockchain sector from 2022, together with the FINTECH market in the city will reach over $ 600 billion to 2032. It is believed that the Hong Kong government has a proactive policy for cryptocurrency companies, which is a clear contrast with a combat tone, which other governments are transferred in the emerging asset class.
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