New US company completes $1 billion XRP purchase as Ripple celebrates price surge
New US treasury company Evernorth has rapidly acquired nearly $1 billion in XRP, generating significant unrealized gains and signaling growing institutional interest.Summary
Evernorth, a newly formed, publicly traded digital-asset treasury company focused on XRP, has completed about 95% of its planned $1 billion XRP purchase, acquiring 388.7 million XRP for roughly $947 million in its first week. This aggressive buying, which has already yielded an estimated $75 million in unrealized gains based on an average entry price of $2.44, has contributed to XRP's recent price surge to $2.64. Evernorth plans to list on Nasdaq via a SPAC merger valued at $1 billion, backed by major investors including SBI Holdings, Pantera Capital, and Kraken. Unlike simple holding strategies, Evernorth intends to actively generate yield by lending and participating in DeFi programs, mirroring MicroStrategy's Bitcoin playbook. This institutional momentum is further evidenced by other companies announcing large XRP treasury allocations and the success of the first US spot XRP ETF.
(Source：CryptoSlate)