Hong Kong's HashKey Receives Approval to Manage 100% Crypto Portfolio

The crypto funds can manage a portfolio of 100% virtual assets, joining the first batch of Hong Kong’s few licensed virtual asset managers.

By Xinyi Luo

Sep 13, 2022 at 1:00 a.m. UTC

Updated Sep 15, 2022 at 3:48 p.m. UTC

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Xinyi Luo

Xinyi Luo is CoinDesk Layer 2's features and opinion intern. She does not currently hold any cryptocurrencies.

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Hong Kong's HashKey Capital Limited said it can now manage portfolios invested 100% in crypto after securing a Type 9 asset management license from the Securities and Futures Commission (SFC) of Hong Kong.

The company is one of a handful of licensed virtual asset managers in Hong Kong, including Huobi and MaiCapital Limited, according to SFC’s records.

“This Type 9 license uplift reinforces our commitment to fostering and advancing the blockchain community in Hong Kong and across Asia,” HashKey Group Chairman Xiao Feng said in the press release.

Earlier this year, HashKey Group raised a $360 million new blockchain fund. It has invested in prominent projects from the Polkadot blockchain to decentralized exchange dYdX.

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