Hong Kong-based digital asset financial services firm HashKey Capital reportedly plans to invest a significant portion of its Hong Kong regulated fund in altcoins. Less than half of the fund’s investments will be in bitcoin (BTC) and ether (ETH), the two largest cryptocurrencies, so it can diversify the distribution to assets with smaller market caps, according to portfolio manager Jupiter Zheng’s statement.

“Altcoin” is a broad term for non-bitcoin cryptocurrencies and includes non-bitcoin cryptocurrencies, which account for approximately half of the total market value of all cryptocurrencies.

The fund began trading on Friday, attracting high net worth individuals and investment firms that serve wealthy Asian families as clients, according to the news service.

Singapore-based HashKey Capital announced a month ago that it had set up a $100 million digital asset fund to invest entirely in digital assets. This followed the re-emergence of Hong Kong as a global crypto hub after a digital asset regulatory framework was established in Hong Kong’s administrative district.

HashKey did not immediately respond to CoinDesk’s request for further comment.