Introduction
HashKey Capital, a renowned digital asset management company, has recently announced the launch of Asias first XRP Tracker Fund. This initiative positions the company as a trailblazer in linking digital assets with conventional finance by providing professional investors with a regulated approach to indirectly invest in XRP.
About the New XRP Tracker Fund
The XRP Tracker Fund provides a simplified and secure way for investors to venture into XRP without the hassles of self-custody. This development is a leap forward for institutional investors keen on making inroads into the crypto market space, as it alleviates some of their major concerns. Ripple, a recognized leader in blockchain cross-border transactions, will act as the anchor investor for the fund.
Vivien Wong’s Perspective
Vivien Wong, Partner at HashKey Capital, spotlighted XRP as one of the most innovative digital assets in today’s market. According to her, this unique tracker fund will simplify the process of gaining access to it within the region. She lauded XRP’s global appeal to enterprises for various purposes, including transaction, tokenization, and value storage.
Vision Behind the Tracker Fund
The vision of the tracker fund, according to Wong, is to simplify access to XRP by providing the most outstanding digital assets in response to the increasing demand for investment opportunities. Consequently, it is destined to become increasingly popular among global enterprises that utilize it for a variety of functions.
More about HashKey’s Involvement in Digital Assets
This tracker fund represents HashKey Capital’s third foray into the digital asset space, following its Bitcoin and Ethereum exchange-traded funds. Both of these previous funds are currently being traded on the Hong Kong Stock Exchange. This latest fund underlines HashKey’s commitment to offering diversified digital asset investment products to its clientele.
XRP Fund Availability and Pricing
Shares in the XRP fund will be accessible through monthly subscriptions and redemptions, either through cash or in-kind contributions. The fund will use pricing data from CF Benchmark, a renowned index provider used in ETF products widely across the U.S. and Asia Pacific.
Future Collaborations
Ripple and HashKey are also reportedly planning to collaborate on more ventures in the future. The two firms will work together to explore new frontiers in tokenization, decentralized finance, and cross-border transactions. Potential projects in the pipeline include a money market fund based on the XRP Ledger according to Wong.
Ripple’s Current Market Position
The announcement of this innovative fund comes at a crucial time for Ripple. The company recently made headlines when a U.S. court approved a joint motion by Ripple and the SEC to have a 60-day pause in their proceedings to facilitate discussions for a settlement. Ripple’s market influence continues to grow with recent actions such as the integration of the RLUSD stablecoin into its network and the acquisition of trading firm Hidden Road.
In conclusion, the launch of Asias first XRP Tracker Fund by HashKey Capital is another step forward in blending conventional finance with digital assets. By offering professional investors a more straightforward and safer way to invest in XRP without self-custody, this initiative promises to be highly beneficial to the world of cryptocurrency.
