Hong Kong-based digital asset investment firm HashKey Capital has launched the HashKey XRP Tracker Fund, marking a significant milestone in the region’s crypto investment landscape.

According to the April 18 announcement, the fund represents Asia’s first product for tracking XRP which operates on Ripple blockchain technology.

Ripple, the San Francisco blockchain company behind XRP, serves as main investor for the new fund. The HashKey Capital team uses social platform X to announce the fund’s purpose to draw larger institutions into XRP trading and develop a bigger community for digital asset investment regulations.

HashKey Launches Asia’s First XRP Fund, Eyes ETF

HashKey, Ripple Launch Cross-Border DeFi Collaboration

The fund marks the start of our mutual investment efforts with Ripple, planning to create cross-border DeFi solutions plus digital token projects with further work on establishing an MMF for XRP on the ledger.

As a partner at HashKey Capital, Vivien Wong praised the business alliance between HashKey and Ripple by explaining that Ripple enables access to enterprise-level blockchain technology.

Through a collaboration with Ripple, Wong sees new possibilities for HashKey to co-develop more DeFi and blockchain-based corporate solutions across their payment networks. “We are enthusiastic about integrating our network of Asian financial institutions with regulators and investors as partners,”—she said, adding:

“Ripple offers us the opportunity to collaborate on more investment products and solutions across cross-border payment solutions, decentralized finance (DeFi), and enterprise blockchain adoption.”

The XRP Tracker Fund represents the third fund HashKey Capital released after successful Bitcoin and Ether products. The firm mentioned that this XRP fund could fully transition into an exchange-traded fund through official regulatory approval just like the earlier funds.

Hank Huang from Cronos Research sees this launch as a historic shift for Asian crypto investments by institutions.

HashKey Launches Asia’s First XRP Fund, Eyes ETF

HashKey Capital’s XRP Tracker Fund initiation establishes an important milestone for institutional crypto participation, according to Huang. The practical use of XRP in international money transfers and HashKey’ network makes digital assets and cryptocurrencies more acceptable to global financial actors.

This piece of news arrives at an important moment when established financial institutions show refreshed interest in digital assets but the regulatory system remains in development across Asia and other regions.

The collaboration between Ripple and HashKey gives investors a path to embrace crypto assets in the next phase of institutional investment in Asia.