Hong Kong-based HashKey to Shift Focus from BTC and ETH to Altcoins

• HashKey Capital, the investment division of HashKey Group, has reportedly launched a secondary market crypto fund that will heavily invest in altcoins on Friday.
• According to reports, the fund has secured potential clients including high net worth investors and Asian family offices, as reported by the company’s portfolio manager Jupiter Zheng Jialiang.
• Zheng Jialiang stated that less than half of the fund’s assets will be allocated to Bitcoin and Ethereum investments, with the rest diversified into altcoins and cash.

HashKey, the investment arm of HashKey Group, which provides approved Bitcoin and cryptocurrency trading services in Hong Kong, will focus on altcoins instead of Bitcoin and Ethereum.

HashKey Plans to Focus on Altcoins

HashKey Capital, the investment division of Hong Kong-based crypto financial services firm HashKey Group, has reportedly launched a secondary market crypto fund that will heavily invest in altcoins on Friday.

According to reports, the fund has secured potential clients including high net worth investors and Asian family offices, as reported by the company’s portfolio manager Jupiter Zheng Jialiang. The firm aims to raise $100 million within 12 months for the new fund. HashKey Capital, which manages over $1 billion in assets, closed a $500 million third venture fund in January.

Zheng Jialiang stated that less than half of the fund’s assets will be allocated to Bitcoin and Ethereum investments, with the rest diversified into altcoins and cash. HashKey’s venture portfolio includes Aztec, Blockdaemon, dYdX, Animoca Brands, and Polkadot.

Expansion in Hong Kong

Earlier this month, HashKey Exchange became the first crypto business in Hong Kong to obtain a license under the city’s new licensing regime, allowing crypto trading platforms to offer retail services. On Monday, HashKey started offering crypto trading services to retail customers.

In an interview with COINOTAG last week, Livio Weng, the Chief Operating Officer of HashKey, expressed high hopes for the exchange’s retail services.

Weng said, “We hope to increase our registered user base to between 500,000 and 1 million by the end of this year. We also expect a bull market next year. So, we plan to target 10 million users by 2025.”