Crypto NewsAltcoinHashkey Group Announces That It Will Invest The Majority Of Its Investments...

Hashkey Group Announces That It Will Invest The Majority Of Its Investments In Altcoins

Hashkey Capital, the investment giant of Hashkey Group, will invest mostly in altcoins instead of Bitcoin and Ethereum.

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The first secondary crypto market fund launched by Hashkey Capital will invest a significant portion of its assets in altcoins with the aim of outperforming market leader Bitcoin, according to the portfolio manager.

The fund, managed by the investment arm of Hong Kong crypto giant Hashkey Group, will launch on Friday. Jupiter Zheng told Reuters that they have already secured potential customers, especially high-net-worth individuals and investment firms serving wealthy Asian families.

Less than 50% of the company's investments will be in the two largest cryptocurrencies, Bitcoin and Ethereum. Zheng said the asset manager will leverage its crypto venture investment experience to diversify allocations to smaller competitors, collectively known as “altcoins.”

Some of the fund's assets will also be cash.

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Hashkey Capital, which previously managed over $1 billion in assets, said it aims to raise $100 million for this fund within 12 months.

Hashkey Capital is also developing distribution channels with some offshore Chinese financial institutions, Zheng said, adding that the weakness in the Hong Kong stock market is also pushing investors to seek diversified strategies.

In his statement, Zheng said he believes crypto prices have bottomed out with interest rates peaking in the US, US asset managers filing for spot Bitcoin ETFs, and Grayscale's victory.

*Not investment advice.



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