Reuters
- HashKey Group said on Monday it will launch a fund focused on the digital asset ecosystem
- The move to create a new fund comes as multiple firms continue to invest in bitcoin
- Standard Chartered estimates show companies imitating Michael Saylor’s strategy have grown their holdings to 100,000 BTC
HashKey Group will launch its inaugural Digital Asset Treasury (DAT) focused fund with an initial target size of $500 million, Hong Kong’s largest licensed crypto exchange said on Monday.
The multi-currency fund’s DAT strategy refers to public companies accumulating cryptocurrency assets to capitalise on higher token prices and a softening regulatory environment.
The strategy’s popularity surged this year as many companies seek to replicate the success of U.S.-based Strategy, a software company that began accumulating bitcoin in 2020 and holds more than $63 billion in cryptocurrency as of June.
Newsletter
Get weekly updates on the newest crypto stories, case studies and tips right in your mailbox.
Strategy copycats have increased their Bitcoin holdings to nearly 100,000 Bitcoin collectively, according to Standard Chartered.
Through investing in and operating top-tier DAT projects globally, HashKey aims to advance crypto asset standardisation and accelerate the development of a sustainable Web3 ecosystem, it said in a statement. Web3 refers to a version of the internet that is decentralised and operates on blockchain technology.
“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,” it said.
