- Evernorth Holdings lists on Nasdaq as XRPN after building a $1 billion XRP treasury.
- XRP futures trading shows strong institutional interest with 567,000 contracts worth $27 billion processed.
- Multiple XRP ETF filings suggest approvals could attract billions from retail and institutional investors.
Evernorth Holdings, a Ripple-backed XRP treasury company, has officially listed on Nasdaq under the ticker XRPN. Armada Acquisition Corp. II confirmed that its Nasdaq symbol changed from AACI to XRPN. Its units and warrants now trade under XRPNU and XRPNW.
This follows the company’s $1 billion accumulation of XRP tokens. The move positions Evernorth as a dedicated XRP treasury company after its merger with Armada Holdings.
Strategic XRP Treasury Expansion
Evernorth has secured over $1 billion in gross proceeds for open-market XRP purchases. These acquisitions include XRP from Ripple Labs, Uphold, and Ripple co-founder Chris Larsen. The purchases increased the firm’s XRP treasury to over 388 million tokens, valued at more than $1 billion.
The company joins other corporations, including VivoPower International and Trident Digital Tech Holdings, that are actively building strategic cryptocurrency reserves. Armada Holdings’ transition to an XRP-focused treasury underscores growing institutional interest in digital assets.
Institutional Momentum and Partnerships
The company has established partnerships with institutional players such as Hidden Road , GTreasury, and Standard Custody. These collaborations aim to support operational efficiency and secure XRP holdings. The institutional focus reflects a broader trend in the market, as digital assets increasingly attract corporate participation.
CME Group has recently launched options trading for XRP futures. Since May, over 567,000 XRP futures contracts have traded, representing nearly $27 billion in notional volume. This activity demonstrates substantial institutional engagement in the token’s derivatives market.
ETF Developments and Market Outlook
XRP’s market visibility is growing, with multiple issuers filing amendments to their XRP ETF applications. Examples are Grayscale, Bitwise, Franklin Templeton, and 21Shares. The filings suggest that approvals could come soon despite the current U.S. government shutdown. The REX–Osprey XRP ETF recently surpassed $100 million in assets under management.
According to the analysts, a fully approved XRP ETF may attract billions in inflows within months. The token benefits from a strong retail and community-driven investor base, reinforcing its market momentum. These developments highlight XRP’s increasing importance in both institutional and retail portfolios.
