Hashkey Capital launched the first XRP Tracker Fund regulated in Asia, according to an April 18 statement.
The XRP Tracker Fund closely follows the price of XRP, the third largest cryptographic asset by market capitalization and a token widely used in the global infrastructure of Ripple payments.
The fund is the third product of Tracker by Hashkey Capital, after its previous offers linked to Bitcoin and Ethereum.
The company suggested that, depending on market conditions and regulatory developments, the tracker could be evolved in a negotiated fund on the stock market (ETF).
XRP Tracker funds
According to Hashkey, the fund is designed to meet the institutional demand for simplified access and in accordance with digital assets. He would open a new bridge so that professional investors acquire an exhibition at XRP without directly holding the token.
Investors can subscribe using cash or kind contributions, and buyouts and subscriptions are treated monthly. The product is compared by CF references, an established index supplier which supports various ETFs linked to cryptography on the main global markets.
Ripple is committed to providing the initial capital of the fund, positioning itself as the anchoring investor in this offer.
Vivien Wong, partner of Hashkey Capital, has focused on the increasing relevance of XRP in the use of companies, payments to the tokenization of assets and the storage of value. She said that the fund simplifies access to a high -usefulness asset and responds to the growing demand for investment products in quality cryptography.
Meanwhile, the partnership between Hashkey Capital and Ripple should extend beyond this initial fund.
Wong stressed that the solid network of financial, regulators and investors in Hashkey in Asia would benefit Ripple’s broader ambitions.
On the other hand, Blockchain’s expertise and Ripple’s payment could allow the Asian company to “collaborate on more products and investment solutions between cross -border payment solutions, DEFI and the adoption of business blockchain”.
Institutional interest of XRP
Hashkey’s decision shows that institutional interest in XRP is gaining steam.
In recent months, several American companies, including Bitwise, Grayscale, Canary Capital and Wisdomtree, have asked for an ETF XRP Spot.
Market observers believe that the chances of approval of these products are high, given the Securities and Exchange Commission (SEC) of the United States has recognized these requests instead of rejecting them, as in previous years.
In addition to this, the recent launch of several financial investment vehicles linked to XRP also increased the probability of a possible launch for an ETF product.
