Source: Cointelegraph Original: "{title}"
The Hong Kong-based cryptocurrency investment firm HashKey Capital has announced the launch of an XRP fund and plans to convert it into an exchange-traded fund (ETF) in the future.
According to an announcement on April 18, this product, officially named the HashKey XRP Tracker fund, is reported to be "the first investment fund in Asia aimed at tracking the performance of XRP."
XRP developer Ripple will act as the anchor investor for the fund. In a separate post on the X platform, HashKey Capital stated that the fund aims to "bring more institutional capital into regulated XRP products and the broader digital asset ecosystem."
In another post on the X platform, HashKey Capital indicated that the fund marks the beginning of closer collaboration with Ripple. The two companies "are exploring new investment products, cross-border decentralized finance (DeFi) solutions, and tokenization projects, including the possibility of launching a money market fund (MMF) on the XRP ledger."
In the announcement, HashKey Capital partner Vivien Wong stated that the company will share its connections with financial institutions, regulators, and investors in Asia with Ripple, adding:
The XRP Tracker fund is HashKey Capital's third tracking fund, following the launch of Bitcoin (BTC) and Ethereum (ETH) ETF products. The company stated that this product may also evolve into an ETF in the future.
Hank Huang, CEO of the Asia-based cryptocurrency investment firm Kronos Research, told Cointelegraph that "the launch of the XRP tracking fund by HashKey Capital marks a key moment for institutional adoption in the region." He noted that regulated and transparent products like HashKey are exactly what institutional investors need to enter the market.
"The mature application scenarios of XRP in cross-border payments, combined with HashKey's robust infrastructure, lay the foundation for large-scale capital inflows and broader recognition of crypto assets in the global financial sector," Huang said.
Related: XRP: Why it can outperform other cryptocurrencies and what the future holds
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