HashKey Capital CEO Deng Chao emphasizes the importance of governance and discipline for corporate crypto treasuries. Digital asset treasuries lacking risk frameworks or diversification tend to fail in volatile cycles. The $500 million DAT fund in Hong Kong targets Bitcoin and Ethereum treasuries for operational use. DATs differ from ETFs as complementary tools for long-term operations.

Spot Bitcoin ETFs hold $152.31 billion in assets, while public companies hold 1,111,225 BTC worth $128 billion. HashKey’s DAT fund allows regular subscriptions and redemptions to address liquidity and operational challenges. The fund focuses on Bitcoin and Ethereum ecosystems, prioritizing custody, payments, staking services, and stablecoin infrastructure globally.

Chao addresses misconceptions in traditional finance about crypto being speculative and hard to secure, hindering broader institutional adoption. HashKey is optimistic about RWA tokenization, OTC markets, and onchain financial product infrastructure. Tokenized products expand the investment universe, while OTC markets facilitate capital flow at scale, signaling a shift towards a fully integrated digital finance ecosystem.

Read more at Cointelegraph: DAT Treasuries Need Discipline to ‘Survive Any Market’