Hong Kong streaming firm to buy $100M of crypto, Worldcoin reprimanded on privacy, women take charge of biggest exchanges: Asia Express.
Our weekly roundup of news from East Asia curates the industrys most important developments.
Hong Kong regulators are considering allowing crypto ETF issuers inthe East Asian cityto stake their custodied Ether. According to reports, talks for greenlighting ETH staking arecurrentlyongoing, and there is no clear deadline for a decision. If approved, staking on the Ethereum network would allow issuers to earn a yield of up to 3.6% per annum by validating transactions.
But since their launch on April 30, Hong Kong spot Ether ETFs haveseen little tonotraction.Three funds have custodied a cumulative $44.9 million, and net outflows have totaled $2.2 million. On certain days, the Ether ETFs experienced no inflows whatsoever. Fee-wise, the spot crypto ETFS charge upwards of 1% per annum, compared to less than 0.30% for their U.S. counterparts.
