In remarkable XRP news, HashKey Capital has rolled out Asia’s first XRP Tracker Fund in an attempt to open the floodgates for institutional investors. The digital asset investment firm has tapped Ripple as an anchor investor, building on previous high-level partnerships between both entities.
HashKey Capital Launches Asia-first Tracker Fund
Digital asset investment giant HashKey Capital has announced its first investment product to track XRP’s price. According to a press release, HashKey Capital launched the first XRP Tracker Fund in Asia, providing investors with institutional-grade exposure to XRP price.
The newly minted fund will provide institutional investors with XRP exposure without the hassle of direct ownership, trading or custody. Per the announcement, the XRP Tracker Fund will mirror the price of XRP with investors with cash subscription and monthly redemptions.
The latest fund is HashKey’s third tracker fund after the successful rollout of its Bitcoin and Ethereum exchange-traded funds (ETFs). According to the XRP news, plans are underway to convert the XRP Tracker Fund into an ETF with HashKey Capital targeting a two-year timeline.
Hashkey Capital disclosed that Ripple will provide the first round of funding for the tracker fund. Apart from seeding the initial investment, Ripple is tapped to become an anchor investor, committing a significant amount of cash.
Ripple, fresh from its Hidden Road broker deal is keen on deepening existing ties with HashKey Capital. Top on the list for both parties is the exploration of new investment products, tokenization, and DeFi solutions.
XRP ETFs Are Gathering Steam
HashKey says choosing XRP as its third tracker fund in Asia was an obvious choice for the investment firm. The press release mentions XRP’s functionalities in enabling efficient transactions beyond traditional alternatives. Already, conversations of a SWIFT integration with Ripple is growing louder and the impact on XRP price.
“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,” HashKey Capital Liquid Funds partner Vivien Wong.
While XRP is gaining traction, anticipation for an XRP ETF has reached an all-time high. An XRP leveraged ETF had a strong start to life, outperforming Solana to set a new altcoin record.
At the moment, a handful of XRP spot ETFs from top investment firms are awaiting approval by the SEC. Industry expert All Things XRP predicts that nine XRP spot ETFs will be approved by the SEC.
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