HashKey Capital, a digital asset management firm based in Hong Kong, has announced the launch of a new investment product focused on XRP, marking a strategic step toward increasing institutional exposure to the third largest crypto asset by market cap in Asia.
The product, called the HashKey XRP Tracker Fund, is positioned as the region’s first investment vehicle specifically designed to mirror XRP’s market performance. The firm also stated that there are plans to evolve the fund into an exchange-traded fund (ETF) in the future.
The Aim Behind Asia’s First XRP Tracker Fund
According to an April 18 announcement, Ripple will act as the anchor investor in the Tracker Fund, reinforcing the partnership between the blockchain firm and HashKey.
HashKey Capital is launching Asia’s first XRP Tracker Fund—with @Ripple as an early investor.
This marks a major step in expanding institutional access to XRP, the third-largest token by market cap. 🧵👇
— HashKey Capital (@HashKey_Capital) April 18, 2025
The initiative aims to attract regulated institutional capital into the altcoin’s ecosystem and to expand accessibility for digital asset investors across the region. HashKey has indicated that the new fund aligns with its ongoing efforts to create compliant, crypto-native financial instruments within regulated markets.
In addition to launching the Tracker fund, HashKey Capital disclosed that the firm and Ripple are deepening their collaborative relationship. The companies are currently exploring the development of additional investment products and financial infrastructure that leverage the XRP Ledger.
These discussions include the potential launch of a money market fund (MMF) using tokenization on the XRP blockchain, as well as the creation of cross-border decentralized finance (DeFi) solutions.
Collaboration With Ripple and Future Product Expansion
Vivien Wong, a partner at HashKey Capital, noted that the collaboration extends beyond financial investment. She said the firm will contribute its network of financial institutions, regulatory bodies, and investors in the region to assist Ripple’s broader objectives.
Wong emphasized that the collaboration supports Ripple’s initiatives in decentralized finance and enterprise blockchain adoption. The XRP Tracker Fund becomes the third tracker fund in HashKey’s portfolio, following similar products for Bitcoin and Ethereum.
3/ A first in Asia, but not the last
The XRP Tracker Fund is HashKey Capital’s third tracker fund, following its Bitcoin and Ethereum ETFs.
With regulatory approval, it could evolve into an ETF in the next 1-2 years, further broadening institutional access.
— HashKey Capital (@HashKey_Capital) April 18, 2025
These offerings reflect the firm’s strategy to provide institutional-grade access to key digital assets. Although not an ETF at this stage, HashKey has indicated the XRP fund may transition to an ETF structure, pending regulatory developments and investor demand.
The introduction of a region-specific XRP fund supported by Ripple adds to the growing interest in bringing traditional financial frameworks to crypto markets in Asia. Interestingly, XRP’s price was ignorant to the news with the asset seeing no uptick but instead trading at $2.08 marking a 1.2% decrease in the past day.
Featured image created with DALL-E, Chart from TradingView
