HashKey Capital announced the launch of the HashKey XRP Tracker Fund (the “HashKey XRP Tracker”) on 18 April 2025.

The fund claims to be the first investment fund in Asia to track the performance of XRP. Ripple, a digital assets infrastructure provider, will be an early investor.

The HashKey XRP Tracker Fund will be available to professional investors, who can gain exposure to XRP without the technical challenges of direct ownership.

XRP is apparently now the third-largest cryptocurrency by market capitalisation after BTC and ETH. It has become an integral part of the sector due to its primary use case: cross-border payments.

With the XRP tracker fund in place, banks, financial institutions, and other enterprises could potentially send funds faster and cheaper than traditional methods like overseas wires.

The HashKey XRP Tracker aims to align with HashKey Capital’s mandate to serve as a pioneering “bridge” between traditional finance (TradFi) and Web3.

Vivien Wong, Partner, Liquid Funds at HashKey Capital, shared,

“XRP stands out as one of the most innovative cryptocurrencies in today’s market, attracting global enterprises who use it to transact, tokenize, and store value.”

The XRP Tracker Fund offers professional investors the ability to buy through cash or in-kind subscription and subscribe or redeem shares monthly. The fund is also benchmarked by CF Benchmark, a pioneer in launching ETF products in the United States and Asia Pacific.

The XRP Tracker Fund is HashKey Capital’s third tracker fund, following the BTC ETF (3008.HK) and ETH ETF (3009.HK) it previously launched with Bosera.

The XRP Tracker Fund is the first of many collaborations planned between HashKey Capital and Ripple that will leverage HashKey Capital’s expertise in professional asset management and Ripple’s expertise in blockchain technology and digital payments.

Wong cited the possibility of tokenising a money market fund (MMF) on the XRP Ledger as an example of the many opportunities that are now possible with the partnership.

Fiona Murray, Managing Director APAC at Ripple, commented,

“We’re looking forward to working with HashKey Capital – their prominence coupled with strong crypto traction here will be imperative to bolstering Asia’s leadership role in crypto and blockchain technologies.”

Ripple will be seeding the initial investment as its anchor investor.

Source of image: Edited from Freepik