HashKey Capital Launches Asia's First XRP Tracker Fund Targeting Institutional Investors

In remarkable XRP news,  HashKey Capital has rolled out Asia's first XRP Tracker Fund in an attempt to open the floodgates for institutional investors.

HashKey Capital has launched Asia’s first XRP Tracker Fund in a bid to open the floodgates for institutional investors, announcing an attempt to open the floodgates for institutional investors.

The digital asset investment firm has tapped Ripple (CRYPTO: XRP) as an anchor investor for the newly minted fund, which provides Union Investment institutionals with exposure to XRP without the hassle of direct ownership, trading or custody.

The XRP Tracker Fund will mirror the price of XRP with investors engaging in cash subscription and monthly redemptions, explained HashKey Capital.

The latest fund is HashKey’s third tracker fund following the successful rollout of its Bitcoin and Ethereum exchange-traded funds (ETFs). Plans are now underway to convert the XRP Tracker Fund into an ETF with Hashkey Capital targeting a two-year timeline.

Hashkey Capital disclosed that Ripple will provide the first round of funding for the tracker fund. Apart from seeding the initial investment, Ripple is tapped to become an anchor investor, committing a significant amount of cash.

The latest development will see both parties exploring new investment products, tokenization, and DeFi solutions.

The news comes shortly after Hidden Road became the first broker to offer XRP trading to institutional clients.

Exploring New Opportunities

HashKey says selecting XRP as its third tracker fund in Asia was an obvious choice for the investment firm. The press release mentions XRP’s functionalities in enabling efficient transactions beyond traditional alternatives. Already, conversations of a SWIFT integration with Ripple are growing louder and the impact on XRP price.

“XRP stands out as one of the most innovative cryptocurrencies in today’s market attracting global enterprises who use it to transact, tokenize and store value,” HashKey Capital Liquid Funds partner Vivien Wong.

While XRP is gaining traction, anticipation for an XRP ETF has reached an all-time high. An XRP leveraged ETF had a strong start to life, outperforming Solana to set a new altcoin record.

At the moment, a handful of XRP spot ETFs from top investment firms are awaiting approval by the SEC. Industry expert All Things XRP predicts that nine XRP spot ETFs will be approved by the SEC.