HashKey Builds Bridge Between Wall Street and Web3 with $500M DAT Fund

HashKey Group, a leading digital asset financial services group in Asia, announced on September 8, 2025, the launch of a $500 million Digital Asset Treasury (DAT) fund aimed at bridging traditional financial capital with on-chain assets. This initiative is positioned as Asia’s largest multi-currency DAT ecosystem fund for the global market and is designed to support the development and commercialization of Web3 ecosystems. HashKey plans to invest in and operate top-tier DAT projects globally, with a particular focus on the Ethereum and Bitcoin ecosystems.

The fund will operate as a perpetual vehicle aligned with the long-term goals and liquidity needs of DAT, allowing for regular subscriptions and redemptions. It will build a diversified portfolio by investing in a range of DAT projects. The fund is intended to serve as a compliant and efficient channel for institutional investors to access potential returns while supporting core public chain ecosystems like Ethereum.

HashKey’s DAT strategy reflects the convergence of traditional finance and crypto assets, with DAT emerging as a focal point for capital markets. Compared to passive ETFs, DAT aligns better with the high-volatility and around-the-clock nature of the crypto market. By integrating traditional financial price discovery logic with on-chain asset structures, DAT functions as a next-generation asset form. It serves as a new interface for traditional capital to engage with Web3 and a pathway for on-chain ecosystems to achieve compliance and global adoption.

HashKey has long been a major player in the digital asset space, with over a decade of involvement in the Ethereum ecosystem. The company has invested in over 600 global blockchain and crypto companies, including more than 400 Ethereum ecosystem projects. HashKey Exchange is among the first in Asia to list digital asset spot ETFs on the Hong Kong Stock Exchange, and HashKey Cloud supports Ethereum nodes.

The company also operates HashKey Chain, an Ethereum Layer-2 chain with total on-chain assets of $172.66 million and partnerships with global financial institutions. HashKey Group’s strategic expansion includes launching the annual HK Web3 Festival, which has become one of Asia’s largest industry summits. This reflects the company’s strong operational and community-building capabilities.

As global regulation of digital assets becomes clearer, the DAT landscape is evolving from exploratory to structured selection. HashKey emphasizes compliance and trust as foundational elements for institutional success in DAT. The company believes only institutions with strong capabilities in asset identification, structural design, risk management, and ecosystem governance will gain an advantage in the next phase of DAT development.

HashKey’s approach extends beyond fund launch—it aims to build an institutional-level bridge from assets to standards and from capital inflows to ecosystem flows. The company envisions shaping the next phase of digital asset infrastructure evolution with a long-term strategy. This aligns with broader trends in the digital asset sector, including the growing institutional interest in Bitcoin treasuries and the increasing number of companies incorporating Bitcoin into their balance sheets.

The recent expansion of corporate Bitcoin treasuries has seen 61 publicly listed companies holding a total of 848,100 BTC as of the first half of 2025, representing 4% of the total Bitcoin supply. These corporate holdings have grown significantly, expanding by 31% in 2024 and nearly doubling in early 2025. Public companies have outpaced ETFs in Bitcoin acquisitions for three consecutive quarters, with corporate treasuries acquiring approximately 131,000 BTC in Q2 2025 alone.

The emergence of corporate Bitcoin treasuries is reshaping how finance teams assess risk and value storage. With rising inflation outpacing traditional cash returns, companies are recalibrating their risk-reward strategies. Bitcoin’s resilience in risk-off market conditions has drawn the attention of risk management teams, who previously viewed crypto as speculative. New accounting guidelines from the U.S. Financial Accounting Standards Board now allow companies to report crypto holdings at fair market value, addressing one of the key practical barriers to adoption.

Standard Chartered and Bernstein Private Wealth Management anticipate a substantial increase in corporate Bitcoin treasury allocations over the next five years, projecting up to $330 billion in allocations globally. This aligns with broader industry expectations, including projections from Binance founder Changpeng Zhao, who anticipates a crypto market cap of $5 trillion as institutional demand grows.

The regulatory environment has also evolved, with acts such as the CLARITY Act, GENIUS Act, and Anti-CBDC Surveillance State Act creating a more supportive framework for corporate adoption. These developments have contributed to a shift in corporate finance practices, with Bitcoin allocation increasingly viewed as a prudent diversification strategy rather than speculative risk-taking.