HashKey Capital has launched Asia’s first XRP Tracker Fund, with Ripple seeding the product as an early investor.
The fund will offer professional investors regulated access to XRP without the need to hold or trade the cryptocurrency directly.
HashKey’s XRP Tracker Fund
Using CF Benchmarks as its reference index, the fund is designed to give institutional-grade exposure to XRP and allows monthly subscriptions and redemptions through either cash or in-kind contributions.
“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,” said Vivien Wong, Partner, Liquid Funds at HashKey Capital.
“With the first XRP Tracker Fund available in the region, we simplify access to XRP, catering to the demand for investment opportunities in the very best digital assets.”
XRP was chosen for its use in cross-border payments, offering faster and cheaper transactions than traditional systems like SWIFT. It also supports tokenization of real-world assets through the XRP Ledger (XRPL) and is already used by several financial institutions and businesses globally.
This marks the venture capital firm’s third crypto tracking product, following previous Bitcoin (BTC) and Ethereum (ETH) funds launched with Bosera. If it gets regulatory approval, the XRP Tracker Fund could be converted into an exchange-traded fund (ETF) in the next one to two years.
Further, the two companies plan to collaborate on other investment products: DeFi solutions for cross-border payments and asset tokenization projects. Another idea under consideration is the creation of a money market fund on XRPL.
Expanding Blockchain Adoption
Wong said the partnership would combine both companies’ strengths, HashKey Capital’s network of investors, regulators, and financial institutions in Asia, and Ripple’s experience in blockchain and digital payments. She added that this collaboration would support joint efforts in areas like enterprise blockchain adoption and financial infrastructure.
Fiona Murray, managing director of APAC at Ripple, said more institutional investors are looking for regulated crypto products, and this fund is a step toward meeting that demand in Asia. She also noted that the Asian firm’s strong regional presence could help support broader crypto and blockchain growth.
The announcement comes as the four-year legal battle between Ripple and the Securities and Exchange Commission (SEC) reached a conclusion with the former agreeing to pay a $50 million fine.
Now that the case has been resolved, the path appears open for XRP ETFs in the U.S., with at least seven firms preparing to launch them. Nate Geraci previously stated that companies like BlackRock and Fidelity may soon file for products tracking Ripple’s native token.
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