Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

Menu

Categories:

Hot right now:

Follow on:

Coinsurges provides coverage of fintech, blockchain, and Bitcoin, delivering the most recent news and analyses on the future of money. Stay up-to-date with live prices, charts, and trading options for the top exchanges. Keep track of the day's top cryptocurrency gainers and losers, as well as which coins have experienced gains and losses in the past 24 hours.
Trust Coinsurges as your go-to source for all news and updates in the industry.

HashKey Unveils XRP Tracker Fund Backed by Ripple—Is an ETF Around the Corner?

Share This Post

HashKey Capital, a digital asset management firm based in Hong Kong, has announced the launch of a new investment product focused on XRP, marking a strategic step toward increasing institutional exposure to the third largest crypto asset by market cap in Asia.

The product, called the HashKey XRP Tracker Fund, is positioned as the region’s first investment vehicle specifically designed to mirror XRP’s market performance. The firm also stated that there are plans to evolve the fund into an exchange-traded fund (ETF) in the future.

The Aim Behind Asia’s First XRP Tracker Fund

According to an April 18 announcement, Ripple will act as the anchor investor in the Tracker Fund, reinforcing the partnership between the blockchain firm and HashKey.

The initiative aims to attract regulated institutional capital into the altcoin’s ecosystem and to expand accessibility for digital asset investors across the region. HashKey has indicated that the new fund aligns with its ongoing efforts to create compliant, crypto-native financial instruments within regulated markets.

In addition to launching the Tracker fund, HashKey Capital disclosed that the firm and Ripple are deepening their collaborative relationship. The companies are currently exploring the development of additional investment products and financial infrastructure that leverage the XRP Ledger.

These discussions include the potential launch of a money market fund (MMF) using tokenization on the XRP blockchain, as well as the creation of cross-border decentralized finance (DeFi) solutions.

Collaboration With Ripple and Future Product Expansion

Vivien Wong, a partner at HashKey Capital, noted that the collaboration extends beyond financial investment. She said the firm will contribute its network of financial institutions, regulatory bodies, and investors in the region to assist Ripple’s broader objectives.

Wong emphasized that the collaboration supports Ripple’s initiatives in decentralized finance and enterprise blockchain adoption. The XRP Tracker Fund becomes the third tracker fund in HashKey’s portfolio, following similar products for Bitcoin and Ethereum.

These offerings reflect the firm’s strategy to provide institutional-grade access to key digital assets. Although not an ETF at this stage, HashKey has indicated the XRP fund may transition to an ETF structure, pending regulatory developments and investor demand.

The introduction of a region-specific XRP fund supported by Ripple adds to the growing interest in bringing traditional financial frameworks to crypto markets in Asia. Interestingly, XRP’s price was ignorant to the news with the asset seeing no uptick but instead trading at $2.08 marking a 1.2% decrease in the past day.

XRP price chart on TradingView

Featured image created with DALL-E, Chart from TradingView

Read Entire Article
spot_img
- Advertisement -spot_img

Related Posts

Tether to issue separate stablecoin for U.S. despite ‘getting comfortable’ with the Genius Act, CEO says

Tether CEO Paolo Ardoino told Bloomberg on Friday that the company is “open to” creating a separate domestic stablecoin to meet the needs of the US market The news comes amid the US trying to

Market Shock Incoming? Strategy Stock Could Crash Then Soar, Analyst Says

According to market watcher Sir Chartist, Strategy’s stock (MSTR) may be headed for a sharp drop before it bounces back He thinks shares could slide as low as $350 Then, once selling dries up, a

Asian Food Company’s Bitcoin Treasury Bet Begins With 21 BTC Acquisition

The multi-brand Asian consumer food company DDC Enterprise has acquired 21 bitcoin in a share exchange deal, marking the first step in its multi-year plan to accumulate 5,000 BTC as part of a broader

Monero and Zcash Light up the Charts as Privacy Coins Quietly Hit $10B

While leading digital assets such as bitcoin, ethereum, BNB, and solana have momentarily paused their momentum toward the end of the weekend, privacy-centric cryptocurrencies have quietly regained

Ethereum SOPR Signals Strength, Suggests More Upside Ahead – Details

Amid a general crypto market uptrend, Ethereum (ETH) has registered a significant price gain over the past months Since Bitcoin embarked on a market rebound in early April, ETH has followed suit,

Behind the Curtain: Inside the Top Hedge Funds Loading up on IBIT and FBTC

The latest data shows that after this week’s spot bitcoin exchange-traded fund (ETF) inflows, Blackrock’s IBIT has amassed 655,57077 BTC, while Fidelity’s FBTC accounts for 200,71272 BTC At the