HashKey Capital To Inject Millions Into Altcoins — Shiba Inu, Dogecoin, And Pepe Coin Set To Soar?

A subsidiary of Hong Kong-based crypto conglomerate HashKey Group is set to unveil a pioneering secondary crypto market fund that aims to allocate its resources to emerging cryptocurrencies.

HashKey Capital strives to surpass the performance of the dominant Bitcoin BTC/USD, the fund said ahead of its Friday debut.

So far, HashKey has already garnered interest from affluent individuals and establishments catering to wealthy Asian families, portfolio manager Jupiter Zheng told Reuters.

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The fund will not be heavily reliant on the two crypto giants, Bitcoin and Ethereum ETH/USD, which will constitute less than half of its investments.

Instead, HashKey Capital plans to capitalize on its expertise in crypto ventures to diversify its portfolio, with a focus on "altcoins."

Major altcoins by market cap include Ripple XRP/USD, Dogecoin, and Shiba Inu SHIB/USD. Additionally, a portion of the fund's assets will be held in cash.

With assets exceeding $1 billion under its management, HashKey Capital previously expressed its ambition to accumulate $100 million for this particular fund within a year.

Hong Kong's administration has been proactive in integrating cryptocurrency, recognizing the growing appetite for alternative investment avenues.

Zheng also highlighted HashKey Capital's ongoing collaborations with select offshore Chinese financial entities.

He noted the recent downturn in the Hong Kong stock market, suggesting it has spurred investors to explore diverse investment avenues.

"We see untapped demand from professional investors who wish to chase (above-market) alpha (returns) in crypto," Zheng said.

He remains optimistic about the crypto market's trajectory, anticipating a stabilization in cryptocurrency prices.

This sentiment is bolstered by the anticipated enhancement in industry liquidity, the impending peak in U.S. rates, and significant U.S. asset managers, like Grayscale, making strides in the realm of spot Bitcoin ETFs.

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