XRP news: HashKey Capital has rolled out Asia’s first XRP Tracker Fund
In remarkable XRP news, HashKey Capital has rolled out Asia’s first XRP Tracker Fund in an attempt to open the floodgates for institutional investors. The digital asset investment firm has tapped Ripple as an anchor investor, building on previous high-level partnerships between both entities.
HashKey Capital Introduces the First Tracker Fund in Asia
HashKey Capital, a major player in digital asset investments, has revealed its first investment product that will monitor the price of XRP. According to a news release, HashKey Capital gave investors institutional-grade exposure to the price of XRP by launching the first XRP Tracker Fund in Asia.
Institutional investors will be able to access XRP through the recently created fund without having to deal with the inconveniences of direct ownership, trading, or custody. With cash subscriptions and monthly redemptions, the XRP Tracker Fund will replicate the price of XRP, according to the statement.
Following the successful launch of its Bitcoin and Ethereum exchange-traded funds (ETFs), HashKey has now launched its third tracking fund. Plans are in motion to turn the XRP Tracker Fund into an ETF with HashKey Capital, with a two-year timeframe in mind, according to the XRP news.
Hashkey Capital revealed that the tracker fund’s initial capital round will be supplied by Ripple. In addition to making the original investment, Ripple is chosen to become an anchor investor, which entails a large financial commitment.
After closing its Hidden Road broker deal, Ripple is eager to strengthen its current relationship with HashKey Capital. Tokenization, DeFi solutions, and the investigation of new investment products are at the top of both sides’ lists.
ETFs for XRP Are Gaining Popularity
According to HashKey, the investment firm’s decision to make XRP its third tracker fund in Asia was a no-brainer. The press release highlights how XRP’s features allow for more effective transactions than those of conventional options. The price of XRP is already being impacted by the increasing volume of discussions about integrating SWIFT with Ripple.
According to Vivian Wong, a partner at HashKey Capital Liquid Funds, “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.”
Even if XRP is becoming more popular, interest in an XRP ETF is at an all-time high. An XRP leveraged ETF got off to a great start, surpassing Solana to establish a new cryptocurrency record.
A few XRP spot ETFs from leading investing firms are now pending SEC clearance. The SEC is expected to approve nine XRP spot ETFs, according to industry analyst All Things XRP.
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