18-4-2025 – HashKey Capital unveiled the HashKey XRP Tracker Fund on Friday, heralding the region’s first investment vehicle dedicated to mirroring the performance of XRP. Tailored for professional investors seeking exposure to the world’s third-largest cryptocurrency—boasting a market capitalisation of approximately $121 billion—this fund eliminates the complexities of direct ownership. Investors can participate via cash or in-kind subscriptions, with the flexibility to subscribe or redeem shares on a monthly basis, according to a statement shared exclusively with The Block.
The launch marks the inaugural collaboration between HashKey Capital and Ripple, with the latter anchoring the fund as its primary investor. Vivien Wong, Partner at HashKey Capital’s Liquid Funds, lauded XRP’s transformative potential, noting its adoption by global enterprises for transactions, tokenisation, and value storage. “This fund simplifies access to one of the most dynamic digital assets, meeting the surging appetite for sophisticated crypto investment opportunities in Asia,” Wong said. She emphasised that the partnership with Ripple will leverage HashKey’s extensive network of financial institutions, regulators, and investors to amplify Ripple’s footprint in the region, while fostering joint innovation in cross-border payments, decentralised finance, and enterprise blockchain solutions.
Fiona Murray, Ripple’s Managing Director for the Asia-Pacific, underscored the fund’s significance in delivering regulated crypto products to institutional investors. “HashKey Capital’s prominence and the region’s robust crypto momentum position Asia as a vanguard in blockchain innovation,” she remarked, expressing enthusiasm for future collaborations. The HashKey XRP Tracker Fund joins HashKey Capital’s growing portfolio, which includes an actively managed fund and the Bosera HashKey Bitcoin and Ether spot ETFs listed on the Hong Kong Stock Exchange, marking its third tracker fund.
The initiative arrives amid heightened anticipation for XRP-focused exchange-traded funds (ETFs), particularly since US President Donald Trump’s second term began in January. Standard Chartered projects that a spot XRP ETF could gain approval in the third quarter, potentially attracting $8 billion in inflows within its first year. In the US, seven firms are competing to launch such ETFs, with the Securities and Exchange Commission facing a May 22 deadline to respond to Grayscale’s filing. As Asia takes a bold step forward with the HashKey XRP Tracker Fund, the region is poised to solidify its role as a hub for crypto investment, bridging institutional demand with cutting-edge blockchain opportunities.
