Evernorth Holdings Advances XRP Treasury Plans with $1B Holdings for Nasdaq Launch

• Evernorth’s XRP holdings reached 388.7 million tokens as of Monday, surpassing $1 billion with XRP trading above $2.6.

• The company, led by Ripple veteran Asheesh Birla, aims to launch under ticker XRPN via merger with Armada Acquisition Corp II.

• Backed by investors including Ripple and SBI Group, Evernorth positions itself as a bridge for XRP to public markets, following an 8.6% price surge post-launch announcement.

Evernorth Holdings advances XRP treasury vehicle on Nasdaq with $1B in tokens. Discover how this Ripple-backed initiative boosts institutional adoption and market growth. Stay updated on crypto innovations today.

What is Evernorth Holdings’ Plan for an XRP Treasury Vehicle?

Evernorth Holdings, a newly launched Ripple-backed digital asset company, is establishing an XRP treasury by accumulating over 388.7 million tokens valued at more than $1 billion. This strategy supports the creation of a publicly traded vehicle on the Nasdaq exchange under the ticker XRPN. The initiative, announced following its debut on October 20, aims to facilitate institutional XRP adoption through transparent public market access.

How Has Evernorth Holdings Accumulated Its XRP Holdings?

Evernorth Holdings has rapidly built its XRP reserves, reaching 388.7 million tokens as reported by digital asset analytics platform CryptoQuant on Monday. With XRP’s price exceeding $2.6 at publication, this accumulation marks a key milestone just days after the company’s official launch. The holdings now total over $1 billion, reflecting strong investor confidence. CEO Asheesh Birla, a 12-year veteran of Ripple, emphasized the timing: “For the first time, XRP has clear regulatory standing in the United States, opening the door for large-scale adoption.” This positions Evernorth as a trusted bridge to public markets, backed by prominent firms like Ripple, SBI Group, Arrington Capital, Pantera Capital, and Kraken. Data from CoinGecko shows XRP’s market capitalization increased by approximately $13 billion alongside an 8.6% price surge following the announcement. The merger with Armada Acquisition Corp II is expected to raise at least $1 billion in funding, including private investments from Ripple, the Japanese SBI Group, and the nonprofit Rippleworks. Such strategic accumulation underscores Evernorth’s commitment to enhancing XRP’s utility in global finance, with experts noting that institutional vehicles like this could drive broader ecosystem growth. Regulatory clarity, affirmed by recent U.S. court rulings on XRP’s non-security status, further bolsters this development.

Frequently Asked Questions

What Is the Significance of Evernorth Holdings’ $1 Billion XRP Treasury for Institutional Investors?

Evernorth Holdings’ $1 billion XRP treasury represents a pivotal step for institutional investors seeking exposure to XRP through regulated public markets. By launching on Nasdaq, it provides a transparent, compliant avenue for large-scale adoption, reducing barriers amid XRP’s established regulatory clarity in the U.S. This could attract significant capital inflows, as echoed by Birla’s comments on bridging traditional finance with digital assets.

Why Is Evernorth Launching a Publicly Traded XRP Vehicle on Nasdaq Now?

Evernorth is launching its publicly traded XRP treasury vehicle on Nasdaq at this juncture due to XRP’s newfound regulatory certainty in the United States, enabling seamless institutional integration. Led by experienced executives and supported by key investors, the move via ticker XRPN aims to capitalize on rising market momentum, making XRP more accessible for everyday and professional traders alike.

Key Takeaways

• Evernorth’s Milestone Accumulation: The firm’s 388.7 million XRP holdings, exceeding $1 billion, signal robust confidence in XRP’s long-term value and institutional potential.
• Strategic Backing and Leadership: With support from Ripple, SBI Group, and others, plus CEO Asheesh Birla’s expertise, Evernorth is well-positioned to drive XRP adoption through Nasdaq listing.
• Market Impact Insight: Post-announcement, XRP surged 8.6% with $13 billion added to market cap; investors should monitor regulatory developments for ongoing opportunities in digital asset treasuries.

Conclusion

Evernorth Holdings’ aggressive accumulation of 388.7 million XRP tokens for its treasury vehicle underscores a maturing landscape for XRP treasury initiatives on platforms like Nasdaq. This Ripple-backed endeavor, fueled by clear U.S. regulatory standing and elite investor support, paves the way for enhanced institutional engagement. As the crypto sector evolves, staying informed on such developments will be crucial for investors eyeing the next wave of digital asset innovation—explore more insights to position yourself ahead.

Evernorth Holdings is progressing with its plans to launch a publicly traded XRP treasury vehicle on the Nasdaq by accumulating 388.7 million XRP.

Evernorth Holdings, a new Ripple-backed digital asset company, has amassed $1 billion worth of XRP tokens as part of its strategy to establish an XRP treasury.

As of Monday, Evernorth’s XRP holdings totaled 388.7 million tokens, according to data from digital asset analytics platform CryptoQuant.

With XRP trading above $2.6 at the time of publication, the company’s XRP holdings have now surpassed the $1 billion mark — a significant milestone in XRP accumulation that came just days after Evernorth’s official debut on Oct. 20 as an institutional vehicle for XRP adoption.

Following Evernorth’s launch announcement last week, XRP has surged by 8.6%, with its market capitalization adding around $13 billion, according to CoinGecko data.

Public launch plans

With $1 billion in XRP now in its treasury, Evernorth is moving closer to launching a publicly traded XRP treasury vehicle on the Nasdaq exchange under the ticker symbol XRPN, as CEO Asheesh Birla said last week.

A 12-year Ripple veteran, Birla stepped down from the company’s board of directors in October to take on the roles of CEO and chair of the board at Evernorth.

Source: CryptoQuant

As part of its merger with Armada Acquisition Corp II, Evernorth expected to raise at least $1 billion in total funding, featuring private investments from Ripple, the Japanese SBI Group, the nonprofit foundation Rippleworks and others.

“We’re backed by a world-class group of investors and leaders, including SBI, Ripple, Arrington Capital, Pantera Capital and Kraken, firms that share our conviction in XRP’s future,” the Evernorth CEO said last Friday, adding:

“So why now? For the first time, XRP has clear regulatory standing in the United States, opening the door for large scale adoption. Evernorth is positioned to be that trusted, transparent bridge to the public markets.”

The news came amid growing anticipation over spot XRP exchange-traded funds (ETFs) in the US. However, as spot HBAR (HBAR) and Litecoin (LTC) ETFs are expected to start trading on Nasdaq today, the community has been speculating that XRP ETFs have faced another delay in decision-making by the Securities and Exchange Commission amid the US government shutdown.