Hashkey Capital, the investment arm of Hong Kong-based crypto giant Hashkey Group, is launching its first secondary crypto market fund.
Hashkey Capital, the investment arm of Hong Kong-based crypto giant Hashkey Group, is launching its first secondary crypto market fund. According to the portfolio manager, this fund will invest a significant part of its assets in altcoins with the aim of overtaking the market leader Bitcoin.
Details About the Fund
The fund, which will be launched on Friday, has already secured potential clients, especially investment firms catering to wealthy Asian families and high-net-worth individuals. Jupiter Zheng told Reuters that less than 50% of the company's investments will be in #bitcoin and Ethereum, the two major cryptocurrencies. Zheng said the asset manager will leverage its crypto venture investment experience to diversify allocations to smaller competitors, known as "altcoins."
Some of the fund's assets will also be in cash.
Hashkey Capital, which previously managed over $1 billion in assets, aims to raise $100 million for this fund within 12 months.
Investment Strategies and the Hong Kong Market
Zheng said Hashkey Capital is developing distribution channels with some Chinese financial institutions. He also added that the weakness in the Hong Kong stock market has pushed investors to seek diversified strategies.
According to Zheng's statements, he believes that crypto prices have bottomed out with interest rates peaking in the United States, U.S. asset managers applying for spot Bitcoin ETFs, and Grayscale's victory.
As a result, Hashkey Capital's new fund looks like it will be a significant development in the crypto investment world. In particular, his intense interest in altcoins offers clues about how the dynamics in the crypto market will take shape. #crypto2023 #Binance
