HashKey Holdings officially debuted on the Stock Exchange of Hong Kong (HKEX) this Wednesday, marking a landmark moment for the region’s digital asset industry. The company successfully raised $206 million through its Initial Public Offering, becoming the first digital asset firm in Asia to go public via a traditional IPO in Hong Kong.
The IPO launch on December 9 saw extraordinary interest from both retail and institutional sectors. The results were telling:
Shares opened at HK$6.70 ($0.86) and experienced immediate price swings common with high-profile debuts. After briefly climbing 5% to a high of $0.91, the stock faced a correction, dipping to $0.78 before stabilizing near the $0.84 mark during afternoon trading.
At the listing ceremony, HashKey Chairman and CEO Xiao Feng emphasized that this milestone is just the beginning. He reiterated the company’s commitment to a "compliance-first" strategy, which he believes is the only path to sustainable growth in the crypto sector. The capital raised is earmarked for:
HashKey’s successful listing joins a wave of major crypto firms entering the public markets in 2025. With companies like Circle, Bullish, Gemini, and Kraken all moving toward IPOs, the industry is seeing a clear shift toward mainstream financial integration and regulatory transparency.
December 2025, Cryptoniteuae