Crypto change HashKey unveiled plans to construct a $500 million fund for investments in digital asset treasury corporations.
HashKey, one of many first regulated crypto exchanges in Hong Kong, stated it’ll construct a diversified portfolio of digital asset treasury initiatives targeted on mainstream cryptocurrencies. It would initially focus on bitcoin and ether (ETH), it stated in an announcement on Monday.
The goal of the fund is to “construct an institutional bridge between conventional monetary capital and on-chain belongings,” by selling a standardized method to managing crypto belongings, HashKey stated.
HashKey seems to be responding to the proliferation of publicly listed corporations construct treasuries of crypto tokens, copying Michael Saylor’s Technique (MSTR), which has been buying bitcoin since 2020 and now owns over 600,000 BTC.
Technique has been copied by numerous different corporations buying massive numbers of BTC and extra not too long ago corporations adopting the same technique for ether, similar to crypto miner BitMine (BMNR) and sports activities betting agency SharpLink Gaming (SBET).
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