HashKey Capital Launches Asia’s First XRP Tracker Fund, Backed by Ripple

HashKey Capital, the investment arm of HashKey Group, has launched Asia’s first XRP tracker fund, marking a major step toward institutional adoption of the Ripple-linked token. Ripple, the enterprise blockchain firm behind XRP, is providing seed funding for the product.

This marks HashKey’s third tracker fund, following similar launches for Bitcoin and Ethereum. Tailored for professional investors, the XRP tracker fund targets institutions and enterprises already leveraging the token for cross-border payments. HashKey highlighted XRP’s efficiency, cost-effectiveness, and speed compared to traditional payment systems like SWIFT, positioning it as a frontrunner in blockchain-powered finance.

Unlike exchange-traded funds (ETFs), tracker funds are not traded in real-time. Instead, investors can only buy or redeem shares once per day, which limits liquidity. However, HashKey noted that the fund could transition into a full-fledged ETF within one to two years, pending regulatory approval.

The move follows a series of milestones for HashKey in Hong Kong. In early 2025, the firm, along with Bosera Asset Management, received approval to launch the world’s first tokenized money-market ETFs. Additionally, in 2024, HashKey secured approval for Bitcoin and Ethereum spot ETFs from Hong Kong’s financial regulators, reinforcing the city’s growing status as a hub for regulated digital asset products.

HashKey previously forecast that Hong Kong’s crypto ETF market could grow to one-fifth the size of its U.S. counterpart. The introduction of an XRP tracker fund further underscores the company’s strategy to broaden institutional access to digital assets in Asia, with XRP’s real-world utility making it a strategic choice for this latest offering.