JUST IN! Hong Kong Prepares to Approve as SEC Opposes Staking in Ethereum ETFs!
According to a recent report from Bloomberg, regulators in Hong Kong are in discussions to approve spot Ethereum ETF issuers to include ETH staking. This move comes as the staking feature has faced controversy and opposition in Ethereum ETF applications filed in the United States.
The US Securities and Exchange Commission (SEC) has expressed skepticism and concerns regarding the staking feature in Ethereum. In response, the applicant companies have modified their applications by removing the staking component that had raised suspicion from the SEC.
On the other hand, Hong Kong has taken a more progressive stance by approving spot Ethereum ETFs prior to the United States. Now, it is engaging in negotiations with issuer companies to potentially incorporate the staking feature into spot ETFs.
Following this promising news, the price of Ethereum experienced a significant surge, reaching $3860. However, it’s important to note that this information should not be considered as investment advice.
(Source: Bloomberg)