Hong Kong’s largest licensed crypto exchange, HashKey Group, has launched a $500 million Digital Asset Treasury fund aimed at Bitcoin and Ethereum projects.
Key Takeaways
- HashKey Group introduced a $500 million fund to invest in Digital Asset Treasury (DAT) projects, starting with Bitcoin and Ethereum.
- The fund aims to create a bridge between traditional finance and on-chain crypto assets by promoting a standardized investment approach.
- Hong Kong now has 49 DAT-linked public firms, mirroring a growing trend inspired by U.S. company Strategy’s massive crypto holdings.
- Corporate adoption of the “crypto-treasury” model continues to rise globally, with firms like Metaplanet and Trump Media making multi-billion-dollar Bitcoin bets.
What Happened?
HashKey Group has launched its first-ever Digital Asset Treasury fund, targeting $500 million to support key crypto ecosystems. The fund will focus primarily on Bitcoin and Ethereum projects, aiming to foster the growth of global Web3 infrastructure and help bridge the gap between institutional capital and decentralized finance.
This move comes amid a surge in publicly listed companies adopting the crypto treasury model, a trend inspired by Strategy’s high-profile Bitcoin acquisition strategy.
📢 HashKey Group Unveils #DAT Strategy: Pioneering the Institutional Bridge Between #TradFi and Crypto
— HashKey Group (@HashKeyGroup) September 8, 2025
🌐 Launching Asia’s largest multi-currency Digital Asset Treasury (DAT) fund — targeting >$500M, focusing on mainstream crypto assets with an initial focus on $ETH and $BTC… pic.twitter.com/dZxsBEUFDw
HashKey’s Crypto Fund: A Strategic Leap
The $500 million fund by HashKey is designed to create a diversified portfolio of Digital Asset Treasury projects. According to the company, the initiative focuses on mainstream cryptocurrencies like Bitcoin and Ethereum in its early phase. HashKey emphasized that this investment vehicle is not just about speculative gains but also about standardizing the management of crypto assets for institutional players.
- The fund will help build a sustainable Web3 infrastructure.
- It aims to offer more structured crypto exposure for investors through diversified holdings.
- HashKey wants to serve as an institutional bridge between traditional finance and blockchain ecosystems.
DAT Strategy Gains Momentum Worldwide
The Digital Asset Treasury (DAT) concept involves companies adding crypto to their balance sheets, mirroring the playbook of Strategy (formerly MicroStrategy), which began accumulating Bitcoin in 2020. The company now holds over 600,000 BTC valued at more than $63 billion, setting a precedent for corporate crypto strategies.
This model has seen a sharp rise:
- Standard Chartered estimates around 100,000 BTC are now held by DAT-style firms worldwide.
- Japanese hotel chain Metaplanet has rebranded as a “Japanese MicroStrategy,” holding over 20,000 BTC.
- Trump Media & Technology Group raised $2.5 billion in May to invest in Bitcoin.
- Marathon Digital Holdings, a U.S. crypto miner, holds more than 50,000 BTC.
Hong Kong’s Crypto-Equity Link Strengthens
HashKey’s fund is also part of a broader transformation in Hong Kong’s financial landscape, where publicly listed companies are increasingly embracing crypto exposure.
- Firms like Boyaa Interactive and Huajian Medical have made sizable crypto purchases.
- These companies exhibit “crypto-stock linkage,” where their stock prices mirror fluctuations in the crypto market.
- As of late August, 49 publicly listed firms in Hong Kong have adopted the DAT model, according to the Hong Kong Digital Asset Listed Companies Association.
This pattern closely resembles trends in U.S. markets, where firms like Strategy have seen their stock valuations correlate closely with Bitcoin’s price movements.
CoinLaw’s Takeaway
I think HashKey’s move is a game changer for how Asia approaches corporate crypto investment. In my experience, most traditional institutions have sat on the sidelines, worried about volatility or regulatory fog. But this fund shows confidence and clarity. HashKey is not just jumping on a trend, it is trying to formalize a framework that merges traditional finance with crypto. I also find it fascinating how Strategy’s long-term Bitcoin play has snowballed into a global shift, inspiring everyone from miners to media companies to turn their balance sheets into digital vaults. If this momentum continues, crypto assets could become as standard on corporate books as cash.
