HashKey Staking Approved as Hong Kong Positions Itself as Web3 Leader

Cryptocurrency exchange HashKey has secured regulatory approval from Hong Kong’s Securities and Futures Commission (SFC) to offer staking services—marking a significant milestone for the city’s evolving digital asset landscape.

The approval, granted on 10 April, follows newly issued SFC guidance on staking for Licensed Virtual Asset Trading Platforms (VATPs) and authorised funds.

HashKey announced the development via social media, noting it is now “one of the first” regulated platforms in Hong Kong to offer such services.

The decision aligns with the China Securities Regulatory Commission’s (CSRC) acknowledgment of the strategic value staking can bring to the crypto investment ecosystem, particularly for proof-of-stake assets like spot Ether ETFs.

According to a translated version of the announcement, the SFC noted:

“[The CSRC] is aware of the potential benefits of staking in enhancing the security of blockchain networks and allowing investors to earn returns from virtual assets in a regulated market environment.”

SFC Approval Puts HashKey Ahead in ETH Staking

HashKey is poised to take a leadership role in Ethereum staking services for spot ETFs, following formal approval from Hong Kong’s SFC, according to the exchange’s managing director, Terence Pu.

Hu said in a translated version of his statement:

“In the near future, investors will not only be able to hold Ether ETFs to obtain staking income but also directly hold ETH and obtain additional income through our staking services.”

The move builds on Hong Kong’s progressive stance in digital asset regulation—last year, the city became one of the first jurisdictions to approve in-kind subscriptions for both Bitcoin and Ether ETFs, offering institutional investors direct access to underlying crypto assets and, now, staking rewards.

This development sets Hong Kong apart from the United States, where the SEC approved spot Ether ETFs but excluded staking capabilities.

For many US institutions, staking remains the missing element in unlocking the full potential of Ether-based funds.

With President Donald Trump’s re-election and the appointment of a pro-crypto SEC chair, market sentiment is shifting.

Analysts, including Bloomberg’s James Seyffart, anticipate that staking may soon be incorporated into US Ether ETFs, potentially as early as May.