HashKey Capital̵...

HashKey Capital’s $100M Digital Asset Fund to Invest Significantly in Altcoins: Reuters

By coindesk.com September 01, 2023 In Bitcoin, Cryptocurrencies

Less than half of the fund’s investments will be in bitcoin (BTC) and ether (ETH), the two largest cryptocurrencies, with the aim of diversifying allocations to smaller cap assets.

Digital assets financial services firm HashKey Capital’s Hong Kong-regulated fund will invest a significant chunk of its assets in altcoins, Reuters reported on Friday.

Less than half of the fund’s investments will be in bitcoin (BTC) and ether (ETH), the two largest cryptocurrencies, so it can diversify allocations to smaller cap assets, portfolio manager Jupiter Zheng said, according to the report.

Bitcoin Little-Changed After Fed Rate Hike; Federal…

Federal Reserve Begins New Program for Overseeing…

Singapore’s Central Bank Presents Design Framework…

“Altcoin” is a broad term applied to cryptocurrencies other than bitcoin, which accounts for around half the total market cap of all cryptocurrency.

The fund, which opened for business Friday, has attracted high-net-worth individuals and investment firms serving rich Asian families as clients, Zheng told the news service.

Singapore-based HashKey Capital unveiled the fund a month ago, for which it aims to raise $100 million to invest entirely in digital assets. This followed Hong Kong reemerging as a global crypto hub following the creation of a digital asset regulatory framework in the administrative region.

HashKey did not immediately respond to CoinDesk’s request for further comment.

Recommended for you:

Edited by Sheldon Reback.

Newsletter Every Wednesday

Sign up for Crypto Long & Short, our weekly newsletter featuring insights, news and analysis for the professional investor.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

Follow @JamieCrawleyCD on Twitter

Learn more about Consensus 2024, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.