HashKey Launches XRP Fund in Asia, with Ripple Support

HashKey Capital, a crypto investment company based in Hong Kong, has started a new fund focused on XRP. They plan to turn this fund into an ETF (Exchange-Traded Fund) later on. This is the first fund in Asia that tracks the value of XRP.

The XRP company, Ripple, is helping to support this fund by being its main investor. HashKey hopes this will bring more large investors into the XRP market and the wider crypto market.

Working Closely With Ripple

HashKey says this fund marks the beginning of a stronger partnership with Ripple. They are planning to work together on new crypto investment products. They also want to explore cross-border DeFi (Decentralized Finance) tools and create tokenized finance solutions using the XRP ledger. They even mentioned the idea of starting a money market fund (MMF) on the XRP platform.

Vivien Wong, a partner at HashKey Capital, said the company will share its links to financial institutions and investors in Asia with Ripple. This partnership will help them build more tools for global payments and blockchain adoption.

A New ETF May Be Coming

The new fund, called XRP Tracker Fund, is the third product from HashKey. They already have Bitcoin and Ethereum tracker funds that they plan to turn into ETFs. The XRP fund could become an ETF in the future as well.

What This Means for XRP in Asia

Hank Huang, the CEO of crypto firm Kronos Research, said the new XRP fund is a big step for bringing more large investors to the crypto market in Asia. He said that transparent and well-organized products like this one are what big investors are looking for.

He also said that XRP has already proven its value as a tool for cross-border payments. With HashKey’s strong systems and Ripple’s support, this fund might attract serious investors and help crypto grow in global finance.