HashKey Group said it will launch what it calls Asia’s largest multi-currency Digital Asset Treasury (DAT) ecosystem fund, with a first-phase fundraising target exceeding $500 million.
The firm told investors the fund will be a perpetual vehicle that allows regular subscriptions and redemptions, and will focus first on projects tied to the Ethereum and Bitcoin ecosystems.
HashKey Aims At Institutional Investors
According to the disclosure, the fund is designed to build a diversified portfolio by investing in and operating top-tier DAT projects worldwide.
The group said the vehicle is meant to act as an institutional bridge between traditional financial capital and on-chain assets. The initial push aims at mainstream crypto assets, with ETH and BTC projects taking priority.
📢 HashKey Group Unveils #DAT Strategy: Pioneering the Institutional Bridge Between #TradFi and Crypto
🌐 Launching Asia’s largest multi-currency Digital Asset Treasury (DAT) fund — targeting >$500M, focusing on mainstream crypto assets with an initial focus on $ETH and $BTC… pic.twitter.com/dZxsBEUFDw
— HashKey Group (@HashKeyGroup) September 8, 2025
HashKey Plans Active Role In Projects
Based on reports, HashKey will not only put money into projects but also take part in running DAT companies and supporting wider industry work.
The firm described a cycle where capital, ecosystem use, market value capture, and liquidity exits feed one another. That model is being pitched as an integrated approach that mixes investment with operational support.
Fund Structure And Mechanics
HashKey described the fund as perpetual, which means no fixed end date, and it will offer ongoing liquidity through subscriptions and redemptions.
Compared with passive ETF products, the group said DAT fits the 24/7, high-volatility nature of crypto markets and combines traditional price discovery logic with on-chain structures.
The fund’s setup aims to appeal to institutional players who want more active exposure than a passive ETF can provide.
Track Record Backs The Pitch
The announcement pointed to HashKey’s decade in the Ethereum space and highlighted numbers meant to show scale: HashKey Capital has invested in over 600 global blockchain and crypto companies, including more than 400 Ethereum ecosystem projects.
HashKey Chain, launched eight months ago, reportedly holds total on-chain assets of $173 million. The group also noted that HashKey Exchange was among Asia’s first issuers of digital asset spot ETFs listed on the Hong Kong Stock Exchange.
HashKey Cloud runs large-scale node services. Its annual HK Web3 Festival is described as a major regional industry event.
Regulation And Market Timing
Reports have disclosed that Nasdaq tightened scrutiny on listed companies’ crypto investments on September 4, 2025.
HashKey framed DAT as a route for on-chain ecosystems to move toward compliance and broader global access as regulation grows clearer.
That message is likely aimed at institutional buyers who are weighing regulatory risk alongside potential returns.
Featured image from SCMP, chart from TradingView