TLDR
- HashKey launches XRP fund for pro investors in Asia.
- Ripple backs the fund as anchor investor.
- Monthly entry/exit via cash or XRP.
- ETF conversion possible pending approval.
- Targets institutional adoption with compliance focus.
HashKey Capital has launched the HashKey XRP Tracker Fund, the first investment vehicle in Asia aimed at tracking XRP’s performance. Designed for professional investors, the fund offers exposure to XRP without requiring direct token ownership, trading, or custody. Ripple, the blockchain company behind XRP, will be the fund’s anchor investor.
HashKey Capital is launching Asia’s first XRP Tracker Fund—with @Ripple as an early investor.
This marks a major step in expanding institutional access to XRP, the third-largest token by market cap. 🧵👇
— HashKey Capital (@HashKey_Capital) April 18, 2025
The launch of the XRP Tracker Fund expands HashKey Capital’s suite of digital asset offerings and reflects its commitment to bridging traditional finance with blockchain-based financial services.
Fund Structure and Market Access
The HashKey XRP Tracker Fund is a private offering intended for professional investors. It allows monthly subscriptions and redemptions through cash or in-kind contributions. The fund is benchmarked by CF Benchmarks, a recognized index provider with a track record of supporting ETF products across the United States and Asia Pacific.
This new tracker fund is HashKey Capital’s third product, following the earlier launch of its Bitcoin and Ethereum ETFs, traded under the ticker 3008.HK and 3009.HK, respectively. The XRP Tracker Fund is a new channel for institutional capital to enter the regulated crypto market in Asia, streamlining access to XRP.
The fund’s structured exposure to XRP is designed to appeal to investors seeking compliance, regulatory clarity, and integration with traditional asset management practices.
Ripple’s Involvement and Strategic Collaboration
Ripple will play a dual role in the fund, acting as an early backer and the anchor investor. The partnership between Ripple and HashKey Capital includes broader plans for collaboration on blockchain-based investment solutions, enterprise blockchain adoption, and cross-border financial infrastructure.
HashKey Capital has stated it will leverage its network of financial institutions, regulators, and investors across Asia to support Ripple’s regional expansion. Both parties are exploring the development of tokenized investment products, such as a money market fund (MMF) deployed on the XRP Ledger.
This partnership aligns with Ripple’s focus on advancing use cases for XRP in cross-border payments and tokenization and HashKey Capital’s efforts to build a regulated and professional crypto asset management ecosystem.
Implications for Institutional Crypto Adoption
Industry participants have noted the significance of the XRP Tracker Fund in advancing institutional adoption of digital assets across Asia. By offering a regulated and transparent investment product, HashKey Capital aims to address the key concerns of institutional investors.
Hank Huang, CEO of Kronos Research, described the fund as a pivotal development for the region . He highlighted its potential to facilitate meaningful capital inflows into digital assets through professional investment vehicles.
XRP has maintained its utility in enabling cross-border payments at lower costs and faster settlement times compared to traditional systems like SWIFT. The XRP Ledger has also seen increased interest in tokenizing real-world assets (RWAs) expand its enterprises and financial institutions.
Future Outlook and Regulatory Considerations
HashKey Capital indicated that the XRP Tracker Fund could be converted into a full-fledged exchange-traded fund (ETF), subject to regulatory approvals. Such a transition would further enhance the accessibility and liquidity of XRP for institutional investors in the Asia-Pacific region.
This initiative is part of a broader strategy to expand HashKey’s digital asset offerings and solidify its role in converging traditional finance and decentralized technologies. The fund aims to attract attention from asset managers, hedge funds, and financial institutions to secure and compliant exposure to XRP.
HashKey Capital’s continued collaboration with Ripple to drive further product innovation in digital finance. The company will focus on scalable, regulated offerings that align with the growing institutional interest in the crypto sector.
