HashKey Group (“HashKey”), Asia’s leading digital asset financial services group, announced a major initiative in the Digital Asset Treasury (DAT) sector, with plans to launch Asia’s largest multi-currency DAT ecosystem fund for the global market. By spearheading, investing in, and operating top-tier DAT projects worldwide, HashKey aims to promote standardized management of crypto assets and drive the sustainable growth of the Web3 ecosystem.
The fund is designed around DAT strategies and stands out as a perpetual vehicle aligned with the long-term operational goals and liquidity needs of DAT, allowing for regular subscriptions and redemptions. 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 ETH and BTC ecosystem projects. The fund aims to establish an institutional bridge between traditional financial capital and on-chain assets, with a first-phase fundraising target exceeding USD 500 million.
DAT Fund Mechanism and Ecosystem Value
Through its new DAT model, HashKey not only offers institutional investors a compliant and efficient channel for asset participation and potential returns, but also leverages its fund and industry resources to support core public chain ecosystems such as Ethereum, driving the commercialization of ecosystem projects. Beyond fund investments, HashKey will actively participate in the operations of DAT companies and the broader industry ecosystem. This creates a positive flywheel of capital investment, ecosystem application, market value capture, and liquidity exit, marking the market’s first approach to DAT from the perspective of both industry investment and ecosystem development.
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Industry Background and DAT Opportunities
HashKey believes that DAT is not a short-term narrative, but a structurally significant institutional window
Amid the ongoing convergence of global traditional finance and crypto assets, DAT is gradually becoming a key focus for capital markets. Compared with passive ETF products, DAT is more aligned with the around-the-clock, high-volatility nature of the crypto market. By combining traditional financial price discovery logic with on-chain asset structures, DAT serves as a carrier mechanism for the next generation of asset forms. It is not only a new interface for traditional capital to understand the Web3 world, but also a crucial path for on-chain ecosystems to move toward compliance and globalization.
HashKey’s focus on DAT is not a shift in direction, but a continuation of its strategic path and a fulfillment of its capabilities
As Asia’s leading, globally positioned digital asset financial services group, HashKey has been deeply involved in the Ethereum ecosystem for ten years, consistently supporting its development across Asia. Dr. Xiaofeng, the Group’s Chairman, is one of Ethereum’s early investors and among the first industry pioneers in Asia to drive blockchain ecosystem adoption.
After a decade of industry involvement, HashKey has emerged as one of the earliest institutions to establish a deep presence in the Web3 ecosystem. HashKey Capital has invested in over 600 global blockchain and crypto companies, including more than 400 Ethereum ecosystem projects. HashKey Exchange is also among Asia’s first issuers of digital asset spot ETFs listed on the Hong Kong Stock Exchange. HashKey Cloud, one of Asia’s largest node service providers, has long supported Ethereum nodes, while the Ethereum Layer-2 chain HashKey Chain, launched eight months ago, now holds total on-chain assets of USD 172.66 million and has established long-term partnerships with multiple global financial institutions.
In addition, HashKey’s annual HK Web3 Festival has grown into Asia’s largest industry summit, showcasing strong community-building and operational capabilities.
Regulatory Trends and Outlook
As global regulation becomes increasingly clear, DAT is transitioning from a broad exploratory phase to a stage of structured selection. Nasdaq’s enhanced scrutiny of listed companies’ crypto investments on September 4, 2025, indicates that the market is moving into a ‘survival of the fittest’ stage
HashKey consistently adheres to compliance as a prerequisite and trust as a foundation. Only institutions with strong capabilities in asset identification, structural design, risk management, and ecosystem governance will hold an advantage in the next stage of DAT development.
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