HashKey Capital, the investment arm of HashKey Group, a prominent Hong Kong-based crypto financial services firm, has recently unveiled its plans to launch a secondary market crypto fund with a strong focus on altcoins. This announcement comes as the crypto market continues to evolve and diversify, with investors increasingly looking beyond Bitcoin and Ethereum for potential opportunities.
According to a report, the newly established fund has already garnered interest from potential clients, including high-net-worth investors and Asian family offices. Jupiter Zheng Jialiang, the portfolio manager at HashKey Capital, revealed that their goal is to raise a substantial $100 million for the fund over the course of the next 12 months.
HashKey Capital has already established itself as a significant player in the crypto investment landscape, boasting over $1 billion in assets under management. In January, the firm successfully closed its third venture fund, amassing an impressive $500 million.
What sets this new crypto fund apart is its intention to diversify its holdings significantly. Unlike many traditional crypto funds that primarily focus on Bitcoin and Ethereum, HashKey Capital’s approach is distinct. Zheng Jialiang emphasized that Bitcoin and Ether would make up less than half of the fund’s total assets. Instead, the fund plans to venture into the realm of altcoins and maintain a portion of its holdings in cash, providing investors with a broader exposure to the crypto market’s potential opportunities and risks.
HashKey to embrace altcoins
The decision to embrace altcoins reflects the growing recognition that the cryptocurrency landscape is no longer solely defined by Bitcoin and Ethereum. Numerous alternative cryptocurrencies, each with their unique features and use cases, have gained prominence. Investors and institutions are increasingly interested in exploring these alternatives to diversify their portfolios and potentially capture higher returns.
HashKey Capital’s existing venture portfolio already includes notable projects such as Aztec, Blockdaemon, dYdX, Animoca Brands, and Polkadot, showcasing its commitment to identifying and supporting innovative blockchain and crypto projects.
In addition to its recent foray into launching a secondary market crypto fund, HashKey has been making significant strides in the regulatory space. Earlier this month, the Exchange, a subsidiary of HashKey Group, made history by becoming the first crypto firm in Hong Kong to secure a license under the city’s new regulatory framework, which allows crypto trading platforms to offer their services to retail clients. This move positions the Exchange as a pioneer in the evolving regulatory landscape of Hong Kong’s crypto industry.
With its diverse portfolio, commitment to exploring altcoins, and pioneering efforts in regulatory compliance, the crypto fund is poised to remain a key player in the crypto investment ecosystem, offering investors both traditional and innovative avenues to participate in the dynamic world of cryptocurrencies. As the crypto market continues to evolve, the firm’s strategic approach underscores the importance of adaptability and diversification in navigating this rapidly changing landscape.
