HashKey Group is on the verge of unveiling what it claims will be Asia’s largest multi-currency Digital Asset Treasury (DAT) fund, aimed at creating a bridge between traditional financial systems and cryptocurrency assets. The fund, headquartered in Hong Kong, is positioned to cater to the growing interest in structured cryptocurrency services among institutional investors, especially at a time when the convergence of traditional finance with cryptocurrency is becoming increasingly relevant.
Focusing primarily on mainstream cryptocurrencies, the fund will concentrate on well-established projects surrounding Ethereum and Bitcoin. It is designed to function as a long-term investment vehicle that allows regular subscriptions and redemptions, all while addressing liquidity needs. HashKey has set an ambitious initial fundraising target exceeding USD 500 million.
The operational dynamics of the DAT model blend conventional financial principles with the inherent speed and volatility of cryptocurrency markets. Unlike traditional Exchange Traded Funds (ETFs) that maintain a passive approach to asset tracking, DAT funds are intended to adapt continuously, reacting to market fluctuations in real time.
HashKey’s approach aims not only for investment returns but also for the overall growth of the crypto ecosystem. A significant aspect of the strategy involves supporting public blockchain networks such as Ethereum and participating in the operations of companies related to DAT. This initiative intends to create a beneficial cycle where capital investment, application development, and liquidity continuously interact and support one another.
HashKey’s management views the DAT framework as a fundamental evolution in the asset management landscape rather than a fleeting trend. The firm perceives DAT as a pivotal channel facilitating the integration of traditional finance with cryptocurrency markets. By leveraging established pricing models from conventional financial markets and applying them to on-chain assets, HashKey believes DAT could serve as a foundational structure for future asset management practices.
Leading this initiative, HashKey’s Chairman, Dr. Xiao Feng, has extensive experience in the blockchain space, being an early investor in Ethereum and involved in its adoption across Asia for over a decade. The company has a diverse portfolio, having invested in more than 600 blockchain and cryptocurrency firms globally, with a significant focus (over 400) on Ethereum-related projects.
Beyond investments, HashKey operates several services, including HashKey Exchange—one of the pioneers in Asia for issuing digital asset spot ETFs. Additionally, HashKey Cloud functions as a major provider of blockchain node services in the region, while its Layer-2 initiative, HashKey Chain, has reportedly amassed over USD 170 million in assets since its inception earlier this year. The group also plays an active role in fostering industry collaboration, organizing the annual HK Web3 Festival, recognized as Asia’s largest gathering for the sector.
As regulatory clarity surrounding digital assets begins to solidify globally, HashKey acknowledges the significance of compliance and trust as key factors in the development of the DAT fund. The firm highlights recent scrutiny by Nasdaq regarding cryptocurrency investments as indicative of a broader regulatory environment where only structured and trustworthy firms are likely to succeed.
HashKey envisions its DAT fund as more than just another investment option—it is part of a strategic long-term vision for building a robust infrastructure for digital assets. The initiative aspires to forge an institutional bridge that connects traditional forms of capital with cryptocurrency ecosystems, starting in Hong Kong and potentially expanding on a global scale. This venture is recognized as a cornerstone for establishing regulatory standards and creating necessary liquidity channels, marking a significant step towards the next phase of digital asset evolution.
