JPMorgan has released its first research report on HashKey (3887.HK), assigning an "Overweight" rating with a target price of HKD 9.0 by December 2026, indicating a potential 28% upside from the current price. The report forecasts a compound annual growth rate of 85% in institutional digital asset inflows in Hong Kong from 2024 to 2027. As a licensed virtual asset trading platform in Hong Kong, HashKey is expected to capture a 75% market share locally by 2024, with institutional business driving its growth. The company is projected to achieve an 80% revenue growth rate by 2026.