HashKey Capital has announced the launch of a new XRP tracker fund in Asia, aimed at institutional investors. This product is the first of its kind in the region and reflects the growing interest in regulated crypto investment tools.
Launch of XRP Tracker Fund
HashKey Capital has launched the new XRP tracker fund in Asia, marking a strategic move to increase adoption of the token among institutional investors. The initial capital for the fund was seeded by Ripple, the company behind the XRP token.
Expanding Institutional Access
According to HashKey Capital, XRP was selected for their new fund as institutional organizations have begun to actively use the token for fast and economical cross-border transactions. XRP offers an effective alternative to the older SWIFT payment system.
Regulatory Changes in Hong Kong
Earlier this year, HashKey Group, in collaboration with Bosera, received regulatory approval to launch tokenized money-market ETFs in Hong Kong. The region's regulators have also approved Bitcoin and Ethereum ETFs in April 2024, promoting Hong Kong as a competitive crypto investment hub.
With the launch of the XRP tracker fund, institutional access to the token is expected to expand, aligning with the company's long-term strategy to diversify its crypto offerings and meet the growing market demand.
