Asia’s First-Ever XRP Investment Fund Launches With Ripple As Anchor Investor In Big Institutional-Investor Push
Blockchain payments firm Ripple has inked a key partnership with HashKey Capital to introduce 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.
HashKey Capital Launches XRP Tracker Fund In Asia
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 official announcement, Ripple is backing the HashKey XRP Tracker Fund as both an early and anchor investor. Ripple’s involvement is pivotal in bringing traditional finance and Web3 innovation.
“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,” posited Vivien Wong, Partner, Liquid Funds at HashKey Capital, in a statement. “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.”
Ripple’s partnership with HashKey is part of a wider push to bring more regulated crypto products to institutions within Asia. CF Benchmark will serve as the new fund’s benchmark provider.
“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,” Ripple’s Managing Director APAC, Fiona Murray, said.
XRP-Based Investment Products Gain Significant Traction
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 you may recall, 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 publication time.
Earlier this month, asset manager Teucrium debuted the first leveraged XRP ETF on the NYSE Arca, which saw “respectable” first-day trading volumes. While Bloomberg’s ETF analyst said it was “very odd” to see a new asset’s first ETF come in leveraged form, he emphasized that the odds of a U.S.-listed spot XRP product being given the nod by the Securities and Exchange Commission (SEC) remain “pretty high.”
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Asia’s First-Ever XRP Investment Fund Launches With Ripple As Anchor Investor In Big Institutional-Investor Push
Blockchain payments firm Ripple has inked a key partnership with HashKey Capital to introduce 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.
HashKey Capital Launches XRP Tracker Fund In Asia
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 official announcement, Ripple is backing the HashKey XRP Tracker Fund as both an early and anchor investor. Ripple’s involvement is pivotal in bringing traditional finance and Web3 innovation.
“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,” posited Vivien Wong, Partner, Liquid Funds at HashKey Capital, in a statement. “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.”
Ripple’s partnership with HashKey is part of a wider push to bring more regulated crypto products to institutions within Asia. CF Benchmark will serve as the new fund’s benchmark provider.
“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,” Ripple’s Managing Director APAC, Fiona Murray, said.
XRP-Based Investment Products Gain Significant Traction
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 you may recall, 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 publication time.
Earlier this month, asset manager Teucrium debuted the first leveraged XRP ETF on the NYSE Arca, which saw “respectable” first-day trading volumes. While Bloomberg’s ETF analyst said it was “very odd” to see a new asset’s first ETF come in leveraged form, he emphasized that the odds of a U.S.-listed spot XRP product being given the nod by the Securities and Exchange Commission (SEC) remain “pretty high.”
Read More