HashKey Launches XRP Tracker Fund with Ripple Backing—Could This Signal an Upcoming ETF?

In a significant development for the cryptocurrency market, HashKey has introduced an XRP tracker fund supported by Ripple. This move has sparked speculation among investors and analysts about the potential launch of an XRP exchange-traded fund (ETF) in the near future. The tracker fund aims to provide investors with exposure to XRP’s performance without direct ownership, aligning with growing institutional interest in digital assets. As regulatory frameworks evolve, this initiative could pave the way for more crypto-based financial products, further bridging traditional finance and the blockchain ecosystem.

The Aim Behind Asia’s First XRP Tracker Fund

According to an April 18 announcement, Ripple will act as the anchor investor in the Tracker Fund, reinforcing the partnership between the blockchain firm and HashKey.

HashKey Capital is launching Asia’s first XRP Tracker Fund—with @Ripple as an early investor.

This marks a major step in expanding institutional access to XRP, the third-largest token by market cap.

— HashKey Capital (@HashKey_Capital) April 18, 2025

The initiative aims to attract regulated institutional capital into the altcoin’s ecosystem and to expand accessibility for digital asset investors across the region. HashKey has indicated that the new fund aligns with its ongoing efforts to create compliant, crypto-native financial instruments within regulated markets.

In addition to launching the Tracker fund, HashKey Capital disclosed that the firm and Ripple are deepening their collaborative relationship. The companies are currently exploring the development of additional investment products and financial infrastructure that leverage the XRP Ledger.

These discussions include the potential launch of a money market fund (MMF) using tokenization on the XRP blockchain, as well as the creation of cross-border decentralized finance (DeFi) solutions.

Collaboration With Ripple and Future Product Expansion

Vivien Wong, a partner at HashKey Capital, noted that the collaboration extends beyond financial investment. She said the firm will contribute its network of financial institutions, regulatory bodies, and investors in the region to assist Ripple’s broader objectives.

Wong emphasized that the collaboration supports Ripple’s initiatives in decentralized finance and enterprise blockchain adoption. The XRP Tracker Fund becomes the third tracker fund in HashKey’s portfolio, following similar products for Bitcoin and Ethereum.

3/ A first in Asia, but not the last

The XRP Tracker Fund is HashKey Capital’s third tracker fund, following its Bitcoin and Ethereum ETFs.

With regulatory approval, it could evolve into an ETF in the next 1-2 years, further broadening institutional access.

— HashKey Capital (@HashKey_Capital) April 18, 2025

These offerings reflect the firm’s strategy to provide institutional-grade access to key digital assets. Although not an ETF at this stage, HashKey has indicated the XRP fund may transition to an ETF structure, pending regulatory developments and investor demand.

The introduction of a region-specific XRP fund supported by Ripple adds to the growing interest in bringing traditional financial frameworks to crypto markets in Asia. Interestingly, XRP’s price was ignorant to the news with the asset seeing no uptick but instead trading at $2.08 marking a 1.2% decrease in the past day.

Featured image created with DALL-E, Chart from TradingView