Ripple and HashKey Capital Introduce Asia’s First XRP Tracker Fund
Ripple, a prominent player in the digital payments sector, has joined forces with HashKey Capital to unveil Asia’s inaugural XRP tracker fund. This innovative financial product is designed to monitor the value of the XRP cryptocurrency, marking a significant development in the region’s digital asset landscape.
Ripple’s Strategic Move as Lead Investor
Crypto Eri, a well-regarded figure in the cryptocurrency community, has drawn attention to this groundbreaking collaboration. The San Francisco-based Ripple will play a pivotal role as an anchor investor in the newly established HashKey XRP Tracker Fund. This strategic initiative represents a major advancement in providing institutional investors in Asia with access to XRP, a move HashKey anticipates will be the first of many similar products in the region.
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Investment Options and Fund Structure
The fund offers investors flexibility in their level of participation, allowing them to contribute using traditional fiat currencies or in-kind payments. Subscribers are afforded the convenience of purchasing or redeeming shares on a monthly basis. Vivien Wong, a partner at HashKey’s Liquid Fund, emphasized the growing significance of XRP in the cryptocurrency arena, noting its appeal to global corporations for a variety of applications, including asset tokenization and value storage.
Ripple’s Expanding Influence in Asia-Pacific
Fiona Murray, Ripple’s Managing Director for the Asia-Pacific region, highlighted the rising demand for digital asset solutions within regulated frameworks among professional investors. Beyond the tracker fund, the companies are exploring additional opportunities, such as the potential development of a money market fund on the XRP Ledger (XRPL).
Wider Implications of XRP Investment Expansion
HashKey Capital has established itself as a key player in the cryptocurrency sector, offering investment products linked to major cryptocurrencies like Bitcoin and Ethereum. The firm’s new XRP tracker fund marks its third cryptocurrency-tracking product, with plans to evolve it into an exchange-traded fund within two years, pending necessary regulatory clearances. This move aligns with the increasing institutional interest in XRP, evidenced by over 11 applications for spot-based XRP ETFs submitted to the US Securities and Exchange Commission.
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