According to Hashkey Capital CEO Deng Chao, the survival of the cryptocurrency ministry for a company depends on governance and discipline.
In an interview with Cointelegraph, Chao argued that Digital Asset Finance (DATS) is a sustainable, long-term, but “there are important warnings.” Those who lack a risk framework tend to diversify poorly like speculative bets, or those who deal with digital assets tend to collapse in the volatile cycle.
“Resilience comes from discipline,” he said. “Digital assets themselves are not inherently unsustainable. What makes a difference is how they are managed.”
The statement comes weeks after Hashkey launched a $500 million DAT fund in Hong Kong. The fund targets Bitcoin and Ethereum-based Corporate Treasury and will actively deploy capital across on-chain infrastructure, custody and ecosystem services.
The fund is designed to serve institutions and businesses seeking to use digital assets. “We don’t just retain them, we also benefit from the growth of the underlying infrastructure,” he said.
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Data vs ETF: Different tools, different goals
Chao pulled out the distinction between DATS and ETFS, saying, “We don’t see them as competitors as complimentary vehicles.” While ETFs provide easy exposure to mainstream investors, DAT is built for the Treasury Department, who wants to fill crypto into long-term operations.
According to data from SOSOValue, the Spot Bitcoin ETF holds a total of $1523.1 billion in assets, accounting for 6.63% of Bitcoin’s total market capitalization. In contrast, public companies hold 1,111,225 Bitcoins (BTC) on their balance sheets on their balance sheets, according to Bitcointreasuries.net.
Chao said the Treasury ministries of many companies are burned by strict fund structures or extreme volatility. Hashkey’s DAT vehicles support regular subscriptions and reimbursement, reducing concentration risk, including exposure to both BTC and ETH.
“The Ministry of Finance, which has entered the code, has long struggled with two issues: liquidity and operation,” Chao said. “Our DAT fund was built to solve these problems.”
Hashkey plans to deploy capital across the Bitcoin and Ethereum (ETH) ecosystem, which Chao described as dual anchors for liquidity and innovation in today’s crypto landscape. The priority sector includes custody, payments, staking services and regulated stubcoin infrastructure.
The fund’s scope is international. During its launch in Hong Kong, Chao confirmed that Hashkey is targeting the US, Japan, South Korea, Southeast Asia and the UK, saying “the fund’s investment paper has been global from day one.”
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Misunderstanding is a barrier, says Chao
Chao also tackled skepticism from traditional finance. Many institutional players believe Crypto is speculative, difficult to protect, or incompatible with standard accounting. “These misconceptions are not just gaps in understanding, but barriers to broader institutional adoption,” he added.
Chao said the hash key is particularly bullish in real-world asset (RWA) tokenization, institutional OTC markets, and on-chain financial products infrastructure.
“Tokenized products expand the investable universe,” he said. “The OTC market provides a channel for capital to flow at scale. This convergence marks the shift from fragmented cryptographic activity to a fully integrated digital finance ecosystem.”
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