HashKey Group, based in Hong Kong, has introduced a $500 million investment fund focusing on digital asset treasuries, particularly Bitcoin and Ether. This fund operates as a perpetual, institutional-only vehicle that permits regular subscriptions and redemptions, similar to an open-ended crypto hedge fund. Unlike traditional exchange-traded funds (ETFs), this fund is intended to actively invest in projects employing DAT strategies. The launch coincides with Nasdaq's recent moves to heighten scrutiny on the crypto holdings of listed companies, framing it as a crucial phase for the industry. HashKey aims to bridge traditional finance with crypto assets through its DAT initiative, which it believes aligns better with the 24/7, high-volatility nature of crypto markets. The company currently manages over HK$12 billion ($1.5 billion) in client assets, operating licensed exchanges and an Ethereum layer-2 chain. As Hong Kong positions itself as a hub for institutional crypto through various regulatory developments, family offices in Asia are notably increasing their crypto investments.

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