Evernorth’s XRP Treasury: A Billion Bucks and a Dash of Chaos!

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Evernorth Holdings, a new Ripple-backed digital asset company, has reportedly amassed $1 billion worth of XRP tokens as part of its strategy to establish an XRP treasury. 🧠💸 (Note: This is not financial advice. It is, however, a very good excuse to buy a boat.)

As of Monday, Evernorth’s XRP (XRP) holdings totaled 388.7 million tokens, according to data from digital asset analytics platform CryptoQuant. 📊✨ (Or as the platform might say, “This data is so accurate, it’s practically a prophecy.”)

With XRP trading above $2.60 at the time of publication, the company’s XRP holdings have 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. 🚀 (Or as the SEC might say, “Not so fast, buddy.”)

Following Evernorth’s launch announcement last week, XRP surged by 8.6%, with its market capitalization adding around $13 billion, according to CoinGecko data. 📈🔥 (CoinGecko: Because nothing says “trustworthy” like a name that sounds like a cryptocurrency.)

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. 🏦💼 (Birla: A man who’s clearly never met a spreadsheet he didn’t want to rearrange.)

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. 🎩🎩 (Because nothing says “leadership” like a hat that’s 12 years old.)

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. 🤝💰 (Note: “Nonprofit” and “Rippleworks” are now officially the most thrilling combination since a toaster that can also solve the Fermat’s Last Theorem.)

“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 on 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.” 🌉🔐 (Translation: “We’re not saying the SEC is a bunch of grumpy squirrels, but we’re not not saying it either.”)

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 were expected to start trading on Nasdaq today, the community has been speculating that XRP ETFs may face another delay in decision-making by the Securities and Exchange Commission amid the US government shutdown. 🚧🛑 (Because nothing says “economic stability” like a government shutdown and a waiting room for ETFs.)

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2025-10-28 12:57