Hong Kong-based crypto group HashKey has launched its first secondary crypto market fund. The fund, launched on September 1, 2023, is about to deal with investments in altcoins.
Jupiter Zheng, the portfolio supervisor at HashKey Capital, the group’s funding arm, informed Reuters that lower than half of the fund’s investments can be allotted to Bitcoin and Ethereum. The first goal of the fund is to outperform the market chief, Bitcoin, by betting on the potential of altcoins.
Zheng additional disclosed that the fund has already attracted potential purchasers, together with high-net-worth people and funding corporations serving wealthy Asian households.
In accordance with Reuters, HashKey Capital’s bold goal is to boost $100 million for the brand new fund inside a yr. In January 2023, the agency efficiently closed its third enterprise fund, amassing $500 million.
HashKey Capital boasts belongings below administration exceeding $1 billion and maintains a enterprise portfolio that features firms like Aztec, Blockdaemon, dYdX, Animoca Manufacturers, and Polkadot, in line with data accessible on its web site.
The HashKey Group has been actively increasing and diversifying its choices, notably since Hong Kong authorities launched regulatory pointers for the crypto sector within the area. In August 2023, HashKey Trade turned the primary crypto trade in Hong Kong to safe a licence below the town’s new regulatory regime. The brand new licence allowed it to broaden its providers past skilled buyers and cater to retail buyers within the area.
In April 2023, HashKey unveiled HashKey Wealth, a brokerage platform catering to buyers and high-net-worth purchasers. The platform provides excessive liquidity bulk buying and selling choices and positions itself as a safe and dependable channel for fund circulation. Remarkably, this brokerage platform was the primary compliant OPT service in Hong Kong after the introduction of the brand new digital asset trade regulatory framework.
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