Hong Kong’s Securities and Futures recently changed its rules to allow certain entities to offer crypto staking in a bid to make the city a Web3 hub.
Huaxia Fund is set to launch staking services on its Ether exchange-traded fund (ETF), making it the second in Hong Kong. OSL Digital Services (OSL) will provide custody and staking infrastructure for the fund.
The staking feature will be live on May 15, moving the ETF from a strictly passive investment vehicle to an “active participant” in the Ethereum ecosystem, according to the announcement from OSL. Huaxia Fund, a subsidiary of China Asset Management (ChinaAMC), first launched its Ether ETF in April 2024.
The introduction of a staking provision comes after Hong Kong’s Securities and Futures Commission (SFC) changed its rules on April 7 to allow for entities like centralized exchanges to offer crypto staking in a bid to position the city as a leader in Web3.
