Hong Kong -based encryption investment company HashKey Capital announced the launch of the XRP fund and announced plans to switch to ETF (Exchange Traded Fund).
According to the April 18 announcement, a fund titled HashKey XRP Tracker Fund is “the first investment fund in Asia designed to track the performance of XRP.”
The XRP developer Ripple will act as an anchor investor of the fund. HashKey Capital said in a separate X post, “The fund aimed to bring more institutional capital to regulated XRP products and extensive digital asset ecosystems.”
Cooperation with Ripple
In another X post, HashKey Capital said the fund is the beginning of close cooperation with Ripple. The two companies are seeking new investment products, border limited solutions and token shoes, including the possibility of starting MMF (Money Market Fund).
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In this announcement, HashKey Capital Partner ViVien Wong added that the company will share with financial institutions, regulators, and Ripple with investors in Asia.
“RIPPLE offers opportunities to cooperate with more investment products and solutions across border payment solutions, distributed financing (defi) and enterprise block chains.”
Hong Kong XRP ETF of the work?
The XRP (XRP) tracker fund is the third tracker fund of HashKey Capital and follows the company’s BTC (Bitcoin) and Ether (ETH) ETF products. The company pointed out that the product could be ETF in the future.
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Investment to XRP’s institutional adoption in Asia
Hank Huang, CEO of Kronos Research, headquartered in Asia, told Cointelegraph that “the launch of HashKey Capital’s XRP tracker fund is a pivotal moment for the institutional adoption of the region.” He said that regulatory and transparent products such as HashKey’s Fund are necessary for institutional investors to enter the market.
Huang said, “The proven use of XRP combined with HashKey’s powerful infrastructure is set up for a wide range of accepting encryption assets in meaningful capital inflows and global finance.
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