HashKey, FTSE Russell team up to offer ‘more nuanced’ crypto exposure

Slate of three products follow index management giant’s partnership with Grayscale Investments in October


HashKey and Adobe Stock modified by Blockworks


HashKey Capital has linked up with index management giant FTSE Russell to give investors crypto exposure beyond the industry’s major assets. 

The Hong Kong-based crypto firm worked with London Stock Exchange Group affiliate FTSE Russell to develop three indexes tracking the performance of a range of crypto assets. 

Such assets “align with more nuanced investment strategies” across different crypto segments and market capitalizations, the company said Wednesday.

While one index tracks the top 20 crypto assets based on market capitalization, another targets assets comprising the ecosystem’s infrastructure layer — related to smart contract platforms and protocol interoperability, for example. 

A third benchmark focuses on crypto assets with “application functionalities,” such as ones associated with staking instruments and decentralized finance.

The index launches follow the Securities and Exchange Commission’s landmark approval of spot bitcoin ETFs in the US. The products give investors an easier access point to the crypto market’s largest asset, which currently has a market capitalization of roughly $780 billion. 

A US spot ether ETF could come later in 2024, some industry watchers believe. The SEC is slated to rule on one or more such proposed funds by May.  

Read more: After spot bitcoin ETF approval, eyes shift to ether fund decision

But HashKey Capital managing director Deng Chao said in a statement there has been “a significant surge in demand from investors who want to diversify their portfolios beyond the established cryptocurrencies.”

FTSE Russell partnered with Grayscale Investments in October as part of a similar effort to boost crypto diversification. Those indexes were set to focus on a range of crypto sectors: currencies; smart contract platforms; financials; consumer and culture; and utilities and services.

The new indexes also come after Haskey Capital parent company HashKey Group raised $100 million in a Series A funding round at a $1.2 billion valuation. OKX Ventures participated in the round, Bloomberg reported.

HashKey Group said at the time the capital would be used to accelerate product diversification for its Hong Kong business, as well as to “drive the group’s compliant and innovative development globally.”

Updated Jan. 24, 2024 at 11:55 pm ET: Clarified that the fundraise was by HashKey Capital’s parent company.

Don’t miss the next big story – join our free daily newsletter.


Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

Mon - Wed, March 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

Top Icon.png


Osmosis thrived in H2 2023 on the back of increased DeFi activity deriving from recently launched Cosmos-related projects and better market conditions. With new value accrual mechanisms for the native token, Osmosis is well-positioned to continue its strong performance in 2024.



Though the opposing flow trend is likely to slow over time, industry watchers note, bitcoin fund assets could one day eclipse the $90 billion gold ETF space


Celestia had the first mover advantage. EigenDA has staked ether. What sets Avail apart?


Bitcoin moved 1% higher Monday morning in New York, Matrixport analysts say $62,000 could happen next month


It’s hard to believe right now that crypto — even with all of its flexibility and massive capabilities — could ever be like cash on the internet


Michael Saylor announced Monday morning that MicroStrategy bought 3k more bitcoin after the X account was compromised over the weekend


Plus, Pudgy Penguins grows its brand and a group of Autoglyphs sell for $14.5 million