Hong Kong-based cryptocurrency exchange HashKey has received regulatory approval to offer staking services, a move that could significantly expand the appeal of proof-of-stake (PoS) investments like spot Ether exchange-traded funds (ETFs) among institutional investors.
The announcement came on April 10, when HashKey revealed that it had secured authorization from the Hong Kong Securities and Futures Commission (SFC) to provide staking services.
This followed new regulatory guidance issued by the SFC to Licensed Virtual Asset Trading Platforms (VATPs) and authorized funds on how to implement staking in a compliant framework.
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HashKey Becomes One of Hong Kong’s First Regulated Exchanges to Offer Staking
HashKey stated it is now “one of the first” regulated exchanges in Hong Kong to offer such services.
The SFC’s decision was also supported by the China Securities Regulatory Commission (CSRC), which acknowledged the advantages of staking for blockchain network security and for offering investors regulated income opportunities from their digital assets.
“Investors will soon be able to not only hold Ether ETFs for exposure but also earn staking rewards directly through our platform,” said HashKey managing director Terence Hu in a statement translated by Asian media outlet PANews.
📢 𝐇𝐚𝐬𝐡𝐊𝐞𝐲 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞, the compliant exchange in Hong Kong under @HashKeyGroup , 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐚𝐩𝐩𝐫𝐨𝐯𝐞𝐝 𝐚𝐬 𝐨𝐧𝐞 𝐨𝐟 𝐇𝐨𝐧𝐠 𝐊𝐨𝐧𝐠’𝐬 𝐟𝐢𝐫𝐬𝐭 𝐥𝐢𝐜𝐞𝐧𝐬𝐞𝐝 𝐭𝐫𝐚𝐝𝐢𝐧𝐠 𝐩𝐥𝐚𝐭𝐟𝐨𝐫𝐦𝐬 𝐭𝐨 𝐨𝐟𝐟𝐞𝐫 𝐬𝐭𝐚𝐤𝐢𝐧𝐠 𝐬𝐞𝐫𝐯𝐢𝐜𝐞𝐬.
🇭🇰… pic.twitter.com/IlfVhJGbVG
— HashKey Group (@HashKeyGroup) April 10, 2025
Hong Kong approved its first Bitcoin and Ether ETFs in April last year, allowing institutional investors to access digital assets via in-kind subscriptions.
With this latest development, the city strengthens its position as a global hub for regulated crypto finance by enabling ETF investors to earn passive yields—something currently not permitted in the U.S.
While the U.S. Securities and Exchange Commission approved spot Ether ETFs in 2024, it stopped short of allowing staking mechanisms. Industry observers believe that could soon change.
With a pro-crypto SEC Chair now in place under President Donald Trump’s administration, expectations are rising that staking services will be allowed in U.S.-based Ether ETFs.
According to Bloomberg ETF analyst James Seyffart, U.S. approval for staking components in ETFs could come as early as May, potentially leveling the playing field with Hong Kong’s regulatory advancements.
Tons of people asking me about Ethereum ETF Staking approval timelines. Its possible they could be approved for staking early, but the final deadline is at the end of October.
Potential intermediate deadlines before the final approval (or denial) are in late May & late August https://t.co/EKPfC65IRF
— James Seyffart (@JSeyff) April 9, 2025
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Hong Kong Grants Crypto Licenses To PantherTrade And YAX, Raising Total To Nine
Earlier this year, the SFC issued operational licenses to crypto exchanges PantherTrade and YAX. This brings the total number of licensed virtual asset trading platforms (VATPs) to nine since the regulatory framework launched in mid-2024.
The SFC’s initial goal was to approve 11 platforms by the end of 2024. However, delays pushed the target into early 2025. Six additional applicants, including WhaleFin Markets and Flying Hippo Technologies, remain under review.
The licensing regime aims to enforce strict compliance standards around investor protection, cybersecurity, and operational integrity, as Hong Kong seeks to compete with faster-moving jurisdictions like Singapore.
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Key Takeaways
HashKey has become one of the first regulated exchanges in Hong Kong to offer staking services following SFC approval.
The move could boost institutional interest in PoS assets like Ether ETFs by enabling passive yield opportunities.
With Hong Kong leading on staking regulations, U.S. approval for similar ETF features may arrive as early as May.
