Ripple is making waves in Asia! They’ve teamed up with HashKey Capital to launch the continent’s first investment fund focused on XRP, the cryptocurrency Ripple created.
A Big Move for XRP in Asia
This new fund will track XRP’s price, giving institutional investors a way to get in on the action without directly holding XRP. Ripple is even an initial investor in the fund, showing their confidence in the project and its potential to grow XRP’s presence in Asian markets. This is a big step towards making XRP more accessible to professional investors in the region. This is likely just the beginning, with more XRP investment products planned for Asia.
How the Fund Works
Investors can contribute using regular money or by contributing XRP itself. They can also buy or sell shares monthly, offering flexibility. HashKey highlights the growing importance of XRP in the crypto world, pointing to its use in things like asset tokenization and as a store of value.
Growing Demand in Asia-Pacific
Ripple sees a huge increase in demand for digital assets in Asia, especially among professional investors who want to invest within a regulated environment. The partnership isn’t just about this tracker fund; they’re also looking at other opportunities, like creating a money market fund on the XRP Ledger (XRPL).
HashKey’s Expanding Crypto Portfolio
HashKey Capital is a major player in the crypto space, already offering investment products for Bitcoin and Ethereum. This XRP fund is their third crypto-tracking product, and they plan to turn it into an exchange-traded fund (ETF) within two years, pending regulatory approval. This move reflects the increasing interest from institutional investors in XRP, with many applications for XRP ETFs already submitted to the US Securities and Exchange Commission.