Ripple Labs Has Partnered with HashKey Capital to Launch the First XRP Tracker Fund

Blockchain payments firm Ripple has inked a key partnership with HashKey Capital to introduce the first-ever XRP Tracker Fund in Asia.

Payment giant Ripple has teamed up with HashKey Capital to launch the first-ever XRP Tracker Fund in Asia.

On Friday, HashKey announced the launch of its HashKey Tracker Fund, designed to track the performance of Ripple’s cross-border payments token XRP. The new fund will be available to professional investors who want exposure to XRP without the hassle of directly managing or owning the asset. It will offer investors the ability to buy shares via cash or in-kind subscriptions and to subscribe or redeem them every month.

According to the announcement, Ripple is an early and anchor investor in the HashKey XRP Tracker Fund, which is also being benchmarked by CF Benchmark.

“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,” said Vivien Wong, Partner, Liquid Funds at HashKey Capital. “With the first XRP Tracker Fund available in the region, we simplify access to XRP, catering to the demand for investment opportunities in the very best digital assets.”

Those thoughts were echoed by Fiona Murray, Managing Director APAC at Ripple, who added: “Institutional investors are eager to access regulated products around the world, and this is exactly what the HashKey XRP Tracker Fund will deliver in the Asia-Pacific region.”

The debut of HashKey’s XRP Tracker Fund comes as investment vehicles tied to XRP gain ground across the globe amid a more favorable regulatory environment for these products and widening acceptance among retail and institutional investors.

As we reported earlier this year, Brazil was the first country in the world to greenlight a spot XRP exchange-traded fund (ETF), which is listed on the country’s B3 stock exchange.

In the United States, multiple asset managers, including Bitwise, 21Shares, Franklin Templeton and Grayscale, have submitted paperwork for spot XRP funds. XRP is the fourth-biggest digital asset with a $121 billion market cap as of Friday morning.

Earlier this month, asset manager Teucrium debuted the first leveraged XRP ETF on the New York Stock Exchange Arca (NYSE Arca), which saw “respectable” first-day trading volumes, reports Bloomberg, which adds that the odds of a U.S.-listed spot XRP product being given the nod by the U.S. Securities and Exchange Commission (SEC) are “pretty high.”