HASHKEY CAPITAL LAUNCHES ASIA'S FIRST $XRP TRACKER FUND: DETAILS...

- @HashKey_Capital announced the launch of Asia's first $XRP tracker fund, opening doors for institutional investors to gain exposure to $XRP without direct ownership, according to The Block.

- The HashKey $XRP Tracker Fund allows investors to subscribe or redeem shares monthly, either in cash or kind.

- Ripple will kickstart the fund as its anchor investor, setting the stage for a new wave of collaboration between HashKey and Ripple.

- This new fund is HashKey’s third tracker offering, following their Bitcoin and Ether ETFs.

"$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," said Vivien Wong, Partner, Liquid Funds at HashKey Capital. "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."

- $XRP is currently the third-largest cryptocurrency, with a market cap nearing $121 billion.

- This move also aligns with growing anticipation in the U.S., where several firms are vying for the approval of a spot $XRP ETF, with predictions of up to $8 billion in inflows in the first year.

- With regulatory clarity around $XRP continuing to evolve, including the temporary pause in the SEC vs. Ripple case, institutional demand for $XRP could rise.

Image: Hashkey X platform