The stock of crypto exchange HaskKey Holdings (HKG) jumped 6% during the Jan. 28 trading session in Hong Kong after banking giant JPMorgan initiated coverage. The bank highlighted a potential 28% upside for HKG stock, citing 85% growth in institutional digital asset inflows in Hong Kong. JPMorgan Sets $9 Target for HashKey Stock Price J.P. Morgan has released a report initiating coverage on HashKey stock, assigning an “Overweight” rating with a target price of HK$9 by the end of 2026. Crypto exchange Ha ...

Group 1: Market Overview - Digital asset investment products have shown strong momentum entering 2026, indicating a shift in investor behavior from Bitcoin to select altcoins [1] - Global crypto fund inflows in 2025 reached $47.2 billion, just shy of the 2024 record of $48.7 billion, setting a positive tone for early-year market activity [1][2] Group 2: Regional Inflows - The US remains the largest source of investment, while Germany and Canada saw inflows of $2.5 billion and $1.1 billion, respectively, reversing previous outflows and reflecting broader global adoption [3] - Switzerland recorded a modest growth in inflows of $775 million, representing an 11.5% year-over-year increase [3] Group 3: Altcoin Performance - Altcoins are gaining significant investor attention, with Ethereum attracting $12.7 billion in inflows last year, marking a 138% year-over-year increase [4] - XRP surged 500% to $3.7 billion, and Solana skyrocketed 1,000% to $3.6 billion, indicating concentrated interest in top-performing tokens [4] Group 4: Bitcoin Trends - Bitcoin flows lagged, dropping 35% year-over-year to $26.9 billion, with short-Bitcoin investment products remaining niche at $105 million in total assets under management [6] - Despite the decline in flows, Bitcoin prices rebounded sharply from $89,000 to $93,300, influenced by leveraged short liquidations and geopolitical events [7] Group 5: Market Sentiment - Market sentiment is cautiously optimistic, with on-chain data indicating one of the largest whale accumulation phases in over a decade [8] - Momentum indicators for Bitcoin and Ethereum are rebounding from deeply oversold levels, suggesting potential for future growth [8]

Core Insights - HashKey Capital has successfully secured $250 million in funding for its new crypto fund, with significant interest from institutional players leading to a 4.16% increase in its stock price on the Hong Kong Stock Exchange [1][2]. Fundraising and Investment Strategy - The funding round has exceeded initial expectations, with a target final fund size of $500 million. The commitments have come from a diverse base, including global institutional investors, family offices, and high-net-worth individuals [2][3]. - The new fund will adopt a multi-strategy investment approach, focusing on blockchain infrastructure, scalable platforms, and use cases aimed at mass adoption [3][4]. Market Position and Performance - HashKey Capital has established itself as a leading institutional investor in Asia's crypto landscape, managing over $1 billion in assets and backing more than 400 projects since its inception in 2018 [5]. - The inaugural fund has achieved a distributed-to-paid-in ratio exceeding 10x, indicating strong long-term investment performance [6]. Future Outlook - The company plans to continue raising capital towards its $500 million target in upcoming closings, positioning itself to capitalize on growth opportunities in emerging markets [4][5].