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Cryptocurrency News Articles
HashKey Capital Launches XRP (XRP) Tracker Fund With Plans to Convert It Into an ETF
Apr 18, 2025 at 05:34 pm
Hong Kong-based crypto investment firm HashKey Capital announced the launch of an XRP fund, with plans to convert it into an exchange-traded fund (ETF) in the future.
Hong Kong-based crypto investment firm HashKey Capital announced the launch of an XRP fund, which it plans to convert into an exchange-traded fund (ETF) in the future.
According to an April 18 announcement, the fund, titled the HashKey XRP Tracker Fund, is reportedly “the first investment fund in Asia designed to track the performance of XRP.”
XRP developer Ripple will serve as the fund’s anchor investor. In a separate X post, HashKey Capital said the fund aims to bring “more institutional capital into regulated XRP products and the broader digital asset ecosystem.”
Excited to announce the launch of the first XRP fund in Asia, tracking the performance of one of the leading crypto assets in the market.This follows our Bitcoin and Ether ETF products, which HashKey Capital launched in 2023. We may also consider converting this product to an ETF in future.https://t.co.gradescope.com/handle/2027.72748/223460
— HashKey Capital (@HashKeyCapital) April 18, 2024
In another X post, HashKey Capital said the fund marks the beginning of a closer collaboration with Ripple. The two firms “are exploring new investment products, cross-border DeFi solutions, and tokenization —including the possibility of launching a money market fund (MMF) on the XRP ledger.”
Related: Ripple vs. XRP vs. XRP Ledger: What’s the difference?
In the announcement, HashKey Capital partner Vivien Wong said the firm will share its connections with financial institutions, regulators and investors in Asia with Ripple, adding:
“We believe that together, we can foster greater participation in the digital asset class and drive further innovation in the industry.”
A Hong Kong XRP ETF in the works?
The XRP (XRP) Tracker Fund is HashKey Capital’s third tracker fund and follows the firm’s Bitcoin (BTC) and Ether (ETH) ETF products. The company noted that this product may also become an ETF in the future.
Related: XRP: Why it’s outperforming altcoins — and what comes next
A boon for XRP’s institutional adoption in Asia
Hank Huang, CEO of Kronos Research, a crypto investment firm based in Asia, told Cointelegraph that “the launch of the XRP Tracker Fund by HashKey Capital marks a pivotal moment for institutional adoption” in the region.
He said that regulated and transparent products like Hashkey’s fund are what institutional investors need to enter the crypto market.
“XRP’s proven use case in cross-border payments, combined with HashKey’s robust infrastructure, sets the stage for meaningful capital inflows and wider acceptance of crypto assets in global finance,” Huang added.
Magazine: XRP win leaves Ripple and industry with no crypto legal precedent set
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