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Ethereum's price suffers slight decline amid Hong Kong's plan to allow staking in ETH ETFs

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Ethereum (ETH) is down more than 1% on Friday following news that Hong Kong will allow issuers to integrate staking features into their spot ETH ETFs.

Hong Kong issuers are allegedly working toward incorporating staking into their ETH ETFs. ProShares submits 19b-4 application for spot ETH ETF. Ethereum will likely continue its range-bound movement over the weekend. Ethereum is down more than 1% on Friday following news that Hong Kong will allow issuers to integrate staking features into their spot ETH ETFs. ProShares also submitted a 19b-4 application for a spot ETH ETF with the Securities & Exchange Commission .

This indicates a slight bias towards a bearish view, especially as ETH's long liquidations are at $21.6 million compared to $3.87 million of short liquidations. Read more:Ethereum leveraged ETFs go live as price fails to react Considering current market conditions, Ethereum will likely stay above the $3,730 support. ETH/USDT 4-hour chart However, higher bearish sentiment will see the $3,618 support become the next key price to watch out for.

 

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