Exhibit 8.1
Principal Subsidiaries of the Registrant
| Subsidiaries: | Place of Incorporation | |
| Sweet Lollipop Co., Ltd. | British Virgin Islands | |
| Metalpha Holding (HK) Limited | Hong Kong | |
| Meta Rich Limited | British Virgin Islands | |
| LSQ Capital Limited | Hong Kong | |
| LSQ Investment Limited | Hong Kong | |
| Metalpha Limited | British Virgin Islands | |
| METALPHA PTE. LTD | Singapore |