Hashkey Capital, a Hong Kong-based crypto investment firm, announced the launch of the XRP fund and plans to convert it into an exchange-traded fund (ETF).
According to April 18 announcementThe fund, officially entitled “Hashkey XRP Tracker Fund,” is reportedly “the first investment fund in Asia aims to track XRP performance.”
XRP Developer Corrugation Will serve as the fund’s moderator investor. In a separate x postalHashkey Capital said the fund aims to “bring more institutional capital into regulated XRP products and a broader digital asset ecosystem.”
Work closely with Ripple
In another x postalHashkey Capital said the fund marked the beginning of a closer collaboration with Ripple. The two companies are “exploring new investment products, cross-border DEFI solutions and tokenization, including the possibility of launching money market funds (MMFs) on XRP Ledger.”
Related: Ripple vs. XRP and XRP Ledger: What’s the difference?
Hashkey Capital partner Vivien Wong said the company will share its connections with Ripple with financial institutions, regulators and investors in Asia, adding:
“Ripple offers us opportunities to work with cross-border payment solutions, decentralized financing (DEFI) and more investment products and solutions adopted by enterprise blockchain.”
Hong Kong XRP ETF in this work?
xrp(XRP)Tracker Fund is Hashkey Capital’s third tracker fund and follows the company’s Bitcoin (BTC) and ether (ethereth) ETF products. The company notes that the product may also become an ETF in the future.
Related: XRP: Why it beats altcoins – What happens next
The Gospel of XRP’s institutional adoption in Asia
Hank Huang, CEO of Kronos Research, an Asia-based crypto investment firm, told Cointelegraph that “the launch of Hashkey Capital’s XRP Tracker Fund was launched by Hashkey Capital, marks a critical moment for institutional adoption in the region”. Regulated and transparent products such as Hashkey funds are what institutional investors need to enter the market, he said.
“The proven use cases of XRP in cross-border payments, coupled with Hashkey’s strong infrastructure, lay the foundation for meaningful capital inflows and widespread acceptance of crypto assets in global finance,” Huang said.
Magazine: XRP Win leaves Ripple and industry with no crypto legal precedent
