HashKey Capital Launches XRP Tracker Fund, Opening New Doors for Institutional Investors

In a fresh step toward blending traditional finance with the fast-paced world of crypto, HashKey Capital has rolled out a brand-new investment product: the XRP Tracker Fund.

In a promising step toward merging traditional finance with the agility of crypto, HashKey Capital has unveiled the XRP Tracker Fund, a new investment product designed to provide investors in Asia with simpler access to XRP, Ripple’s renowned digital token, announced on Tuesday.

This offering is tailored for those who desire the benefits of XRP without the technical management of wallets or private keys, a key concern for institutional investors. The fund provides a more hands-off and secure way to invest in the token, eliminating the need for self-custody which is often a turn-off for institutions who face the risk of losing funds if keys are compromised.

The fund is structured to track the market price of XRP, enabling investors to participate in its price movements without directly buying and holding the token. It also features Ripple as the anchor investor, adding an extra layer of credibility and confidence to the product.

“We are delighted to bring the first XRP tracker fund to this part of the world. As one of the most innovative digital assets circulating today, XRP is already being used by enterprises globally for various use cases, including cross-border transfers and tokenization,” said Vivien Wong, partner at HashKey Capital.

“This launch provides broader access to invest in a top-tier digital asset in a simpler and safer manner for those who have been anticipating it.”

This is the third crypto ETF to be launched by HashKey, following the Bitcoin and Ethereum ETFs which were listed on the Hong Kong Stock Exchange earlier this year. The XRP Tracker Fund will follow a monthly schedule for subscriptions and redemptions, with investors having the option to contribute either in cash or through in-kind transfers.

The pricing model for the fund is by CF Benchmark, a recognized name across major U.S. and Asia-Pacific ETF markets.

The launch of the XRP tracker fund marks the beginning of deeper cooperation between Ripple and HashKey, with both companies planning to carry out more joint efforts in the future. These endeavors will focus on exploring opportunities in DeFi, tokenization, and cross-border payments. One potential project that has been discussed is a money market fund built on the XRP Ledger.

This partnership is a continuation of the collaboration between the two companies, which began with the integration of Ripple’s O.L.A. technology into HashKey’s institutional-grade digital asset brokerage services earlier this year.

The move comes at a pivotal moment for Ripple, which recently agreed with the U.S. SEC to pause the legal appeals for 60 days to allow both sides to discuss a potential settlement.

The company is also expanding its offerings, having recently launched the RLUSD stablecoin and acquired Hidden Road, a trading platform that processes over $10 billion daily.

With the possibility of legal clarity on the horizon and strategic partnerships forming, Ripple’s positioning and XRP’s exposure could be entering a new era.