HashKey Group, one of Asia's leading digital asset financial services firms and Hong Kong's largest licensed cryptocurrency exchange, has announced the launch of a $500 million perpetual Digital Asset Treasury (DAT) fund. This initiative aims to become Asia's largest multi-currency DAT vehicle, targeting over $500 million in capital for its first phase.
The newly launched fund is designed as a perpetual structure, allowing for regular subscriptions and redemptions. It will invest in and operate a diversified portfolio of DAT-focused projects, with initial investments concentrating on Bitcoin (BTC) and Ethereum (ETH) ecosystem projects. HashKey will take active operational roles in some of these projects, aiming to accelerate adoption and strengthen the link between traditional finance and on-chain assets.
The DAT fund launch follows HashKey Group's broader institutional expansion, including the June rollout of GF Token - Hong Kong's first fully on-chain tokenized security. The firm stated that this creates "a positive flywheel of capital investment, ecosystem application, market value capture, and liquidity exit."
This development occurs alongside Hong Kong's formalization of its crypto presence, with the Hong Kong Digital Asset Listed Companies Association now counting 49 members with a combined market capitalization of approximately $20 billion. Many members are planning to expand their token holdings in the coming months, following the DAT model pioneered by companies like MicroStrategy (now Strategy), which holds over $63 billion in cryptocurrency.