Overview

• The multi-currency Digital Asset Treasury fund is structured as a perpetual vehicle that permits ongoing subscriptions and redemptions to meet liquidity needs.
• The initial strategy focuses on bitcoin and ether and includes investing in DAT-focused companies alongside direct operational participation.
• HashKey frames the product as an institutional bridge connecting traditional financial capital to on-chain markets under Hong Kong’s regulated environment.
• The first phase targets raising more than $500 million as the fund seeks to support public blockchain ecosystems such as Ethereum.
• Industry observers caution that DATs entail higher manager risk and possible conflicts of interest, calling for independent governance, external custody, and clear disclosures.