Ripple has announced a collaboration with HashKey Capital to launch the HashKey XRP Tracker Fund, the first investment fund in Asia designed to track the performance of XRP.
Ripple has announced a collaboration with HashKey Capital to launch the HashKey XRP Tracker Fund, the first investment fund in Asia designed to track the performance of XRP.
Ripple will serve as the anchor investor, seeding the initial investment for the fund, which aims to provide professional investors with exposure to XRP without requiring direct ownership.
The fund will allow investors to subscribe or redeem shares on a monthly basis and offers the option to invest through cash or in-kind subscriptions. Vivien Wong, a partner at HashKey Capital, emphasized the innovative nature of XRP, noting its appeal to global enterprises for transactions, tokenization, and value storage.
Launching the HashKey XRP Tracker Fund is part of a broader strategy, with Ripple and HashKey Capital planning further collaborations on investment products and solutions in areas such as cross-border payments, decentralized finance (DeFi), and enterprise blockchain adoption.
Fiona Murray, Managing Director for Asia-Pacific at Ripple, highlighted the growing demand among institutional investors for regulated products in the region. She stated that the fund aims to bolster Asia's leadership in crypto and blockchain technologies.
XRP currently ranks as the world’s third-largest crypto by market capitalization, standing at approximately $121 billion. Market speculation around a potential spot XRP exchange-traded fund (ETF) is also growing, with Standard Chartered anticipating approval in the third quarter, potentially unlocking significant inflows for the market.
As several firms pursue the launch of a spot XRP ETF, the U.S. Securities and Exchange Commission is expected to respond to Grayscale's filing by May 22.
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