Evernorth’s XRP treasury trust set to list on Nasdaq Oct. 8 with about 473 million XRP
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Evernorth, founded by former Ripple executive Asheesh Birla and backed by major crypto and TradFi-linked investors, is set to list on Nasdaq via SPAC as XRPN, positioning itself as an XRP treasury vehicle. With ~473M XRP (~$700M) expected at closing and over $1B in related private placements (much contributed in XRP), the listing expands regulated equity-based access to XRP exposure, reinforcing institutionalization and potentially increasing near-term liquidity and attention.
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Evernorth, an XRP treasury vehicle built by a member of Ripple’s founding team, is set to begin trading on Nasdaq on Oct. 8. The trust is expected to hold about 473 million XRP, valued at roughly $700 million. The transaction is projected to deliver about $300 million in gross cash proceeds, alongside related private placements raising over $1 billion, much of it contributed in XRP rather than dollars. The move positions the vehicle as Wall Street’s largest XRP-focused stock instrument.
