BULLISH 📈 : HashKey Stock Rises 6% on JPMorgan Overweight Rating

Crypto exchange HashKey Holdings (HKG) saw its stock rise by 6% on Jan. 28 in Hong Kong after JPMorgan began coverage.

JPMorgan forecasts a 28% upside for HKG, highlighting an 85% growth in institutional digital asset inflows in Hong Kong.
The bank set a target price of HK$9 for HashKey by the end of 2026, with an "Overweight" rating.
HashKey debuted on the Hong Kong Stock Exchange in December 2025, initially dropping to HK$5.50 before rebounding.
Institutional capital inflows into Hong Kong's digital assets are expected to grow at a CAGR of about 85% from 2024 to 2027.
JPMorgan anticipates HashKey's revenue to increase by approximately 80% in 2026.
HashKey secured $250 million in funding for its new crypto fund post-IPO.
With a local market share of 75% in 2024, HashKey benefits from regulatory compliance and product coverage advantages.

Hong Kong Crypto Services Expansion in 2026

JPMorgan reports that Hong Kong will broaden digital asset services by including more crypto assets, potential derivatives, and stablecoin-related services.
HashKey, as a compliant platform, is expected to leverage these expanded services.
HashKey's management has experience in both traditional finance and digital assets, supporting above-average industry growth projections.
The company is poised to benefit from increased participation in the crypto sector in 2026.