Renowned digital asset service provider and blockchain leader, HashKey Capital has entered into a strategic partnership with Ripple to launch HashKey XRP ($2.20) Tracker Fund. The digital asset service provider confirmed the development in a blog post on Friday.

According to HashKey Capital, the fund represents a significant milestone as Asia’s first investment fund designed to track the performance of XRP. As revealed, the HashKey XRP Tracker also aligns with HashKey Capital’s goal of bridging the gap between traditional finance (TradFi) and Web3. In addition, HashKey plans to make the XRP Tracker Fund available to professional investors seeking to gain exposure to XRP without the technical challenges associated with direct ownership.

The XRP Tracker Fund also provide professional investors with the flexibility to buy shares either through cash or in-kind subscription. The Tracker Fund also allow investors to subscribe or redeem shares on monthly basis.

A leading pioneer in launching ETF products in United States and Asia Pacific, CF Benchmark, benchmarked the fund. The XRP Tracker Fund is the HashKey Capital’s third tracker fund, following the BTC ($94,659.00) EFT (3008.HK) and ETH ($1,796.71) ETF (3009.HK) it previously launched with Bosera.

HashKey Capital liquid funds partner comment on the launch

A liquid funds partner at HashKey Capital, Vivien Wong, has commented on the launch. She highlighted XRP’s position as one of the most innovative cryptocurrencies in today’s market. Wong emphasized that its unique attribute makes it appealing for global enterprises who utilizes it to transact, tokenize, and store value. The partner added that the availability of the XRP Tracker Fund in Asia simplifies access to XRP, further catering to the demand for investment opportunities in the very best digital assets.

The managing director of APAC at Ripple, Fiona Murray has also reacted to the development. Murray stated that HashKey Capital connections will be extended to financial institutions, regulators, and investors in Asia Ripple. She added that the partnership also opens door for the possibility of tokenizing a Money Market Fund (MMF) on the XRP ledger.

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