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Fidelity Compares Bitcoin to Dr Jekyll and Mr Hyde
This is the third tracker fund launched by HashKey after the Bitcoin and Ethereum ones.
HashKey says that it picked the XRP token due to the fact that institutions and enterprises around the globe are already using it. “XRP is at the forefront of cross-border payments, enabling faster, cheaper, and more efficient transactions than traditional systems like SWIFT…” it said in a statement on social media.
Unlike an ETF, a tracker fund is not traded like a stock throughout a trading session, meaning that its price does not fluctuate in real time. Investors can buy or sell once a day, meaning that its liquidity is substantially lower. HashKey says that the XRP-based tracker fund could evolve into an ETF with additional regulatory approval. This could happen within the span of one or two years.
**XRP to Get Major Institutional Adoption Boost in Asia**
Unlike other cryptocurrencies like Bitcoin and Ethereum, XRP has been gaining significant traction as a reliable cross-border payment method. It is not surprising that institutions are starting to take notice, especially with its ability to settle transactions faster and at a lower cost than traditional systems such as SWIFT.
HashKey has announced the launch of an XRP-based tracker fund which aims to track the performance of the cryptocurrency.
Source: https://u.today/xrp-to-get-major-institutional-adoption-boost-in-asia
