Hong Kong-based HashKey Capital launched the HashKey XRP Tracker Fund on April 18, aiming to increase institutional exposure to XRP in Asia. Ripple is the anchor investor in this fund, designed to mirror XRP's market performance.
HashKey plans to evolve the fund into an ETF in the future. The collaboration between HashKey and Ripple includes exploring additional investment products and financial infrastructure leveraging the XRP Ledger.
The companies are discussing a money market fund (MMF) using tokenization on the XRP blockchain and cross-border DeFi solutions. Despite the news, XRP's price saw a 1.2% decrease, trading at $2.08.