HashKey Capital Launches Asia's First XRP Tracker Fund With Ripple, Eyes ETF Conversion for $121B Token

HashKey Capital has launched Asia's first regulated XRP Tracker Fund, with Ripple serving as the anchor investor by providing the initial seed capital. The fund is designed to allow institutional investors in Asia-Pacific to gain exposure to XRP, the third-largest cryptocurrency by market capitalization at approximately $121 billion, without directly holding the token.

The HashKey XRP Tracker Fund enables professional investors to subscribe or redeem monthly using cash or in-kind contributions. The product is benchmarked by CF Benchmarks, an established index provider, and is structured to meet institutional demand for simplified, compliant access to digital assets.

This is HashKey Capital's third tracker fund, following its Bitcoin and Ether ETF offerings. The firm has indicated plans to potentially convert the tracker into an exchange-traded fund (ETF) in the future, depending on market and regulatory developments.

The partnership between HashKey Capital and Ripple is expected to extend beyond this fund, with both firms exploring new investment products and solutions in areas such as cross-border payments, decentralized finance (DeFi), and enterprise blockchain adoption.

The launch of the fund coincides with easing legal challenges for Ripple, including a recent pause in the SEC's appeal regarding XRP's institutional sales. Market observers anticipate the possibility of a U.S.-based XRP spot ETF approval as early as the third quarter of 2025, with several asset managers awaiting regulatory responses.

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