#XRT

Ripple backs an XRP fund in Hong Kong

The island under Chinese control is the fifth largest stock market in the world.

Exciting news for the XRP community in Asia! Ripple, the technology company behind XRP, has announced its support for the first XRP tracking fund in the region, launched by HashKey Capital in Hong Kong. This innovative fund, named HashKey XRP Tracker Fund, is specifically designed for professional investors, offering them a regulated and streamlined way to gain exposure to XRP without the need to directly manage digital assets.

Ripple's involvement goes beyond mere support; the company will become an anchor investor in the fund, injecting initial capital and demonstrating its strong commitment to expanding institutional access to XRP in the Asian market. Fiona Murray, General Manager of APAC at Ripple, highlighted the growing demand for regulated digital asset products from professional investors in the region, stating that this fund is designed to meet those needs.

This launch marks a significant milestone for the institutional adoption of XRP in Asia. By providing a transparent and accessible investment vehicle, the HashKey XRP Tracker Fund could attract substantial capital from pension funds, asset managers, and regional hedge funds. Hank Huang, CEO of Kronos Research, noted that such regulated products are crucial for institutional investors to venture into the digital asset market.

In addition to the tracking fund, Ripple and HashKey Capital have ambitious plans to explore future collaborations. This includes the possible tokenization of money market funds on the XRP Ledger and the development of innovative solutions in the realm of decentralized finance (DeFi) and the tokenization of traditional assets.