HashKey Capital has launched the HashKey XRP Tracker Fund. It is the first fund in Asia designed to track the price of XRP. Ripple, a blockchain-based payments company, will be an early investor in the fund.

Last year, HashKey Capital obtained Type 4 and upgraded Type 9 licenses from the Securities and Futures Commission (SFC), allowing it to provide securities and virtual asset management and advisory services to retail investors in Hong Kong.

HashKey Launches XRP Fund for Institutions

Fiona Murray, Managing Director APAC at Ripple
Fiona Murray, Managing Director APAC at Ripple, Source: LinkedIn

The new fund is open to professional investors. It offers exposure to XRP without the need for direct token ownership. XRP is currently the third largest cryptocurrency by market capitalization, following Bitcoin (BTC) and Ethereum (ETH). Its main use case is in cross-border payments.

“Institutional investors are eager to access regulated products around the world, and this is exactly what the HashKey XRP Tracker Fund will deliver in the Asia-Pacific region,” said Fiona Murray, Managing Director APAC at Ripple.

XRP is used by banks and financial institutions to send funds quickly and at lower costs. This is often cheaper than traditional options like wire transfers. HashKey Capital says the fund is in line with its aim to connect traditional finance with blockchain-based systems.

You may want to read at FinanceMagnates.com: Is XRP Moving Up Ahead of a Possible Ripple-SWIFT Integration?

Ripple, HashKey Plan More Crypto Products

Investors in the fund can subscribe using cash or in-kind contributions. Subscriptions and redemptions are allowed once a month. The fund uses CF Benchmark as its pricing standard. CF Benchmark is known for its work in cryptocurrency index products in both the US and Asia Pacific.

This is the third tracker fund from HashKey Capital. It follows two previous funds linked to BTC and ETH, both launched with Bosera.

HashKey Capital and Ripple plan further collaboration. These projects will combine HashKey Capital’s experience in asset management with Ripple’s background in blockchain and digital payments.

Source: Finance Magnates