Ripple an Early Investor in HashKey Capital’s New XRP Tracker Fund in Asia

Asset Manager Hashkey Capital has introduced a fund in which the performance of XRP in Asia is followed, with the aim of promoting institutional acceptance in the region for token used for transactions in the Ripple network.

The Hashkey XRP Tracker Fund became available on Friday at institutional investors in Asia. The fund marks the first of various planned collaborations between Hashkey Capital and Ripple Labs.

XRP is the fourth largest cryptocurrency through market capitalization, with a total value of $ 121 billion, Coingecko facts Shows. The token was recently traded at $ 2.08, an increase of 318% in the past year.

“XRP distinguishes itself as one of the most innovative cryptocurrencies in the current market, which attract global companies that use it to transfer value, to token and to save,” said Hashkey Capital Liquid Funders Vivien Wong on Friday in a statement.

“With the first XRP tracker fund that is available in the region, we simplify access to XRP, with regard to the demand for investment options in the very best digital assets,” she added.

As part of her partnership with Hashkey Capital, Ripple will act as an anchor investor for the fund and sowing with An unknown amount of money.

Decrypt reached for Ripple Labs and Hashkey Capital for extra comments, but neither of them responded on time for publication.

The XRP Tracker Fund is the third fund of Hashkey Capital that follows the prices for digital assets, after BTC ETF and ETH ETF of the company.

The launch comes as Asian crypto companies to trace institutional intake in digital asseted investment vehicles after approvals from Hong Kong supervisors of Spot Bitcoin and Ether ETFs in 2024.

Although Spot -ether and especially Bitcoin ETFs have experienced robust in the past year, if uneven, insertion from Wall Street investors, their equivalents of Hong Kong have introduced the interest of investors of investors.

Spot Bitcoin and Ether ETFs in the US managing $ 100 billion in assets, while in Hong Kong they seem to have only $ 382 million assets in control, the ETF dashboard of the data provider SOSO VALUE to show.

Published by James Rubin