Ripple Launches HashKey XRP Tracker Fund with HashKey Capital

Ripple has announced a collaboration with HashKey Capital to launch the HashKey XRP Tracker Fund, the first investment fund in Asia designed to track the performance of XRP.

Crypto payments firm Ripple is collaborating with HashKey Capital to launch the HashKey XRP Tracker Fund, the first investment fund in Asia that will track the performance of XRP, both companies announced on Monday.

For the fund, which will be offering the first institutional product focused on tracking XRP in the Asian market, Ripple will serve as the anchor investor, kicking off the initial investment.

The fund aims to provide professional investors with the opportunity to gain exposure to XRP without requiring them to hold the token directly. Investors will be able to subscribe for or redeem shares in the fund on a monthly basis. It will also be open for investors to join the fund through cash or in-kind subscriptions.

“We are delighted to partner with HashKey Capital to launch this innovative fund,” said Fiona Murray, Managing Director for Asia-Pacific at Ripple. “There is a strong and growing demand from institutional investors in the region for high-quality, regulated crypto products.”

“This fund will allow investors in the region to participate in the digital asset revolution in a convenient and efficient manner. We are committed to working together to bring even more best-in-class products and services to the market.”

The fund will be investing in units of the HashKey XRP Tracker Note, which is a short-term debt instrument issued by HashKey Capital and linked to the price of XRP.

The fund is currently open for subscriptions from eligible investors.

Commenting on the launch of the fund, Vivien Wong, Partner at HashKey Capital said: “We are very excited to be launching the HashKey XRP Tracker Fund, the first fund of its kind in Asia.”

“XRP is a highly innovative cryptocurrency that is already used by some of the world’s largest enterprises for cross-border payments, tokenization and value storage.”

“We believe that this fund will be a valuable addition to the investment portfolios of professional investors who are looking to gain exposure to the fast-growing digital asset market.”

The two firms are planning to collaborate on more investment products and solutions for the next stage of growth, focusing on areas such as cross-border payments, decentralized finance and enterprise blockchain adoption.

The development comes as several firms are lining up to launch a spot XRP ETF, with Standard Chartered expecting the approval in the third quarter.

The SEC is expected to respond to Grayscale’s filing on May 22.