Huaxia to add staking to Ether ETF, Hong Kong’s second of its kind

Huaxia Fund's Ether ETF will offer staking services starting May 15th, becoming the second in Hong Kong to do so. OSL will provide the necessary infrastructure for this new feature. This change transforms the ETF from passive to active participation in the Ethereum network. The Hong Kong SFC's April 7th rule change enabled this, aiming to establish Hong Kong as a Web3 leader. Staking allows investors to earn rewards by locking up their tokens to secure the blockchain. Bosera HashKey's Ether ETF was the first to utilize staking under the new regulations. Current ETH staking yields approximately 2.14% annually, offering potential for compound growth. The US is also considering staking for Ether ETFs, with several applications filed with the SEC. Staking is viewed as a crucial element to attract more investors to Ether ETFs. Hong Kong's proactive approach to crypto, coupled with its growing fintech sector, is fostering innovation in the Web3 space.