tl;dr
HashKey Capital, part of HashKey Group, has launched Asia's first XRP token tracker fund, with Ripple seeding the initial investment. Designed for professional investors, the fund aims to boost XRP's institutional adoption, following HashKey's previous Bitcoin and Ethereum tracker funds. XRP is favo...
HashKey Capital has launched Asia’s first XRP token tracker fund, backed by Ripple’s initial investment to boost institutional adoption of the cryptocurrency.
The fund targets professional investors, highlighting XRP’s key role in enabling faster, cheaper cross-border payments compared to traditional systems like SWIFT.
Unlike traditional ETFs, this tracker fund trades once daily, resulting in lower liquidity. However, HashKey anticipates it may convert into an ETF within one to two years pending regulatory approval.
This initiative follows HashKey’s previous Bitcoin and Ethereum tracker funds and aligns with Hong Kong’s recent regulatory approval for crypto ETFs.
Earlier in 2024, HashKey Group and Bosera received approval to launch tokenized money-market ETFs, signaling significant growth in Hong Kong’s crypto investment landscape.
HashKey predicts that Hong Kong’s crypto ETFs could eventually reach one-fifth the size of their U.S. counterparts, reflecting strong investor interest and regulatory progress in the region.