HashKey Exchange Unveils $500 Million Digital Treasury Fund in Hong Kong Expansion

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Major cryptocurrency exchange expand into institutional asset management with massive treasury investment vehicle targeting corporate clients.

HashKey Group, Asia's leading digital asset financial services group and Hong Kong's largest licensed crypto exchange, announced the launch of a $500 million Digital Asset Treasury (DAT) fund, positioning itself at the forefront of institutional crypto adoption in Asia.

The multi-currency fund represents Asia's largest DAT ecosystem fund and aims to bridge traditional finance with crypto assets by investing in and operating top-tier DAT projects worldwide, with an initial focus on Bitcoin and Ethereum ecosystems.

Following the MicroStrategy Playbook

HashKey's DAT strategy mirrors the growing trend of public companies accumulating cryptocurrency assets to capitalize on higher token prices and a softening regulatory environment. The approach has gained significant traction as companies seek to replicate the success of MicroStrategy (now rebranded as Strategy), which began accumulating Bitcoin in 2020 and currently holds approximately 636,505 bitcoins valued at over $63 billion as of September 2025.

According to Standard Chartered, MicroStrategy copycats have collectively increased their bitcoin holdings to nearly 100,000 bitcoin this year alone, as reported by Reuters. The success of this strategy has prompted over 70 public companies worldwide to adopt a Bitcoin treasury standard.

"HashKey will build a diversified portfolio by initiating and investing in a range of DAT projects focused on mainstream crypto assets, with an initial emphasis on Ethereum and Bitcoin ecosystem projects," the company stated in its announcement.

More Than Just a Fund

The initiative goes beyond simple cryptocurrency accumulation. HashKey's fund is designed as a perpetual vehicle aligned with long-term operational goals and liquidity needs, allowing for regular subscriptions and redemptions—a structure that sets it apart from passive ETF products.

"Through its new DAT model, HashKey not only offers institutional investors a compliant and efficient channel for asset participation and potential returns, but also leverages its fund and industry resources to support core public chain ecosystems such as Ethereum," the company explained in its press release.

The fund aims to establish an institutional bridge between traditional financial capital and on-chain assets, creating what HashKey describes as "a positive flywheel of capital investment, ecosystem application, market value capture, and liquidity exit."

Strategic Timing Amid Regulatory Clarity

The launch comes at a pivotal moment for digital asset regulation. HashKey noted that Nasdaq's enhanced scrutiny of listed companies' crypto investments on September 4, 2025, indicates the market is entering a "survival of the fittest" stage.

"As global regulation becomes increasingly clear, DAT is transitioning from a broad exploratory phase to a stage of structured selection," HashKey stated. "Only institutions with strong capabilities in asset identification, structural design, risk management, and ecosystem governance will hold an advantage in the next stage of DAT development."

The company emphasized its commitment to compliance, stating that it "consistently adheres to compliance as a prerequisite and trust as a foundation."

The future vision of the company is marathon-based rather than a sprint. "HashKey aims to go further, not just faster. The company is not merely launching a fund—it is building an institutional-level bridge."

The fund's success could encourage more global firms to reconsider their crypto strategies, potentially laying the groundwork for a more decentralized and interconnected digital financial ecosystem. As institutional backing for crypto accelerates, HashKey's bold move positions Asia as a serious contender in the global digital asset market.