Ripple an Early Investor in HashKey Capital's New XRP Tracker Fund in Asia
HashKey Capital has launched the HashKey XRP Tracker Fund for institutional investors in Asia, aimed at promoting XRP adoption in the region. This fund is the first of several collaborations between HashKey Capital and Ripple Labs. XRP, the fourth largest cryptocurrency by market cap at $121 billion, recently traded at $2.08, reflecting a 318% increase over the past year. Ripple will act as an anchor investor for the fund, contributing an undisclosed amount. The XRP Tracker Fund is HashKey's third digital asset price-tracking fund, following its BTC ETF and ETH ETF. The launch coincides with efforts by Asian crypto firms to attract institutional investments after Hong Kong regulators approved spot Bitcoin and Ether ETFs for 2024. In contrast to U.S. ETFs managing $100 billion, Hong Kong's ETFs have only $382 million in assets under management.
