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HashKey Unveils XRP Tracker Fund Backed by Ripple—Is an ETF Around the Corner?
In a significant development, HashKey Capital has launched a XRP tracker fund in collaboration with Ripple. The announcement marks a crucial milestone for both parties, as it paves the way for further expansion and adoption of digital assets in Asia.
Vivien Wong, a partner at HashKey Capital, emphasized that their investment extends beyond financial support, as they will also contribute their network of financial institutions, regulatory bodies, and investors to Ripple’s broader objectives. This collaboration is expected to foster Ripple’s initiatives in decentralized finance (DeFi) and enterprise blockchain adoption.
The introduction of the XRP tracker fund underscores HashKey’s commitment to providing institutional-grade access to key digital assets. Although the fund is not an ETF at this stage, there are hints that it could evolve into one in the next 1-2 years, pending regulatory developments and investor demand.
The XRP tracker fund represents a significant achievement for both parties, as it offers investors exposure to XRP’s performance without requiring them to directly invest in the asset. This development is particularly noteworthy given the recent surge of interest in bringing traditional financial frameworks to crypto markets in Asia.
Interestingly, XRP’s price was unaffected by this news, with the asset trading at $2.08 and experiencing a 1.2% decrease over the past day.
XRP price chart (Source: TradingView.com)
In conclusion, HashKey’s announcement highlights its dedication to bridging the gap between institutional investors and digital assets. It is essential for regulators and financial institutions to recognize the potential of these markets and adapt to their growth.
Source: https://bitcoinist.com/hashkey-unveils-xrp-tracker-fund-backed-by-ripple/
