- Evernorth’s $1B XRP fund set to transform institutional crypto investments.
- Recent $214 million XRP purchase strengthens Evernorth’s growing crypto portfolio.
- XRPN ticker set for NASDAQ listing in Q1 2026.
Evernorth, led by CEO Asheesh Birla, is making a bold move in the cryptocurrency space with the launch of a $1 billion fund dedicated to holding XRP. According to Asheesh Birla, this fund is aimed at large institutions and corporate treasuries, providing them with a secure way to invest in XRP without the risks and complexities associated with directly managing digital assets.
The model mirrors that of an asset management fund, where investors can purchase shares in Evernorth’s XRP holdings.
A New Approach to Crypto Investment
Unlike traditional models that merely hold assets, Evernorth’s fund is designed to generate yield through various strategies across the XRP Ledger (XRPL) and the decentralized finance (DeFi) ecosystem. These strategies include staking, lending, and liquidity routing, which will allow Evernorth to grow its XRP holdings and enhance the value of its shares.
This proactive approach sets Evernorth apart from standard ETFs, which typically do not aim to generate additional returns from the assets they hold.
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Evernorth’s Recent $214 Million XRP Purchase
Recently, Evernorth made a significant acquisition, purchasing 84,365,876.3625 XRP at an average price of $2.54 per token, totaling $214 million. This purchase, part of Evernorth’s ongoing accumulation strategy, increases its total XRP holdings to over 473 million tokens.
The acquisition underscores the company’s commitment to positioning XRP as a key institutional asset and highlights its dedication to long-term growth in the crypto market.
XRPN: Evernorth’s NASDAQ Listing
In addition to the fund, Evernorth plans to list its shares on NASDAQ under the ticker symbol XRPN, with the launch scheduled for Q1 2026. This move aligns with Ripple’s broader push to increase adoption of XRP and blockchain technologies across global financial markets.
Ripple’s expansion into key markets, including Asia and the Middle East, also contributes to growing institutional interest in XRP, enhancing the potential of Evernorth’s new initiative.
Strategic Timing and Global Expansion
The launch of Evernorth’s fund comes at a time when clarity around XRP’s regulatory status in the U.S. has been improving. Recent court rulings have helped distinguish between institutional sales and exchange trading, creating a more stable environment for investors.
Additionally, Evernorth is planning to expand into markets like Japan and South Korea, where there is already strong institutional interest in XRP, further strengthening its position in the global market.
As Evernorth prepares to announce its custody partner and first DeFi protocol integrations, the company is positioning itself as a leader in institutional crypto investment, paving the way for secure and sustainable growth in the XRP market.
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