[Aletheia Capital Initiates Coverage on HashKey Group: Institutional-Grade Crypto Infrastructure Positioning Viewed Favorably, Assigned Buy Rating] Deep Tide TechFlow reports that on February 13, investment research firm Aletheia Capital initiated coverage on HashKey Group, assigning a Buy rating with a target price of HK$9.5, representing an upside potential of approximately 38%. The report highlights that as the global crypto market enters a phase of institutionalization and compliance, HashKey's positioning as a provider of institutional-grade digital asset infrastructure can be seen as a potential counterpart to Coinbase in Asia. The research report believes that the company's leading position in Hong Kong's licensed market and regulatory barriers will continue to drive growth, with short-term growth relying on the expansion of trading volumes and the launch of new features, while long-term growth could focus on high-value-added businesses such as custody, RWA, and on-chain financial services.