Shortly
HashKey Capital is a leading asset manager that has created a fund to track the performance in Asia of XRP. This fund marks the beginning of several collaborations planned between HashKey Capital, RippleLabs. Ripple will serve as the anchor investor of this fund and seed it with a non-disclosed amount.
HashKey Capital, an asset manager in Asia has launched a fund that tracks the performance of the XRP token used in transactions on the Ripple Network. The goal is to encourage institutional adoption of the token in this region.
Institutional investors in Asia can now invest into the HashKey XRP Tracker Fund. The fund represents the first of many planned collaborations between HashKey Capital, Ripple Labs.
XRP has a market cap of $121 Billion, making it the fourth biggest cryptocurrency. The following are some of the most effective ways to increase your ROI: shows. Tokens were recently traded for $2.08 and up 318% from a year ago.
“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, " HashKey Capital Liquid Funds Partner Vivien Wong said Friday in a statement.
She added, “With the first XRP Tracker Fund in the region we simplify the access to XRP and cater to the demand of investment opportunities in digital assets.”
Ripple is a partner of HashKey Capital and will serve as the anchor investor, securing seed money for this fund. Unknown amount of money.
Decrypt tried to reach out to HashKey Capital, RippleLabs and other companies for further comment but none responded before publication.
HashKey Capital launched the XRP Tracker Fund, its third tracker fund for digital assets after BTC ETF or ETH ETTF.
Its launch comes as Asian crypto firms aim to spur institutional inflows into digital asset-based investment vehicles following Hong Kong regulators’ approvals of spot Bitcoin and Ether ETFs in 2024.
The Wall Street spot Ether ETFs, and in particular the spot Bitcoin ones, have seen robust, but uneven, Wall Street investor flows over recent years. However, Hong Kong counterparts of these funds have only attracted a lukewarm level of interest.
Data provider Soso Value’s ETF Dashboard shows that Spot Bitcoin ETFs manage assets worth $100 billion, but those in Hong Kong only seem to have $382 million. Shown Below.
James Rubin is the editor
