JPMorgan Chase has released its first research report covering HashKey (3887.HK), giving it an "Overweight" rating and a target price of HK$9.0 by December 2026, representing an upside of approximately 28% from the current price. The report points out that institutional inflows into digital assets in Hong Kong are projected to grow at a CAGR of 85% from 2024 to 2027. As a licensed virtual asset trading platform in Hong Kong, HashKey held a 75% local market share in 2024, and institutional business will be key to HashKey's growth, with revenue growth projected at 80% by 2026.
