Evernorth, a digital asset treasury, aims to raise over $1 billion to buy and manage XRP. Backed by SBI Holdings and other investors, the company plans to list on Nasdaq under the ticker XRPN in Q1 2026. Led by Asheesh Birla, Evernorth offers XRP exposure through a publicly traded stock, not an ETF.

Unlike an ETF, Evernorth actively manages XRP per share over time through treasury operations. The company will use tactics like institutional lending and DeFi yield to increase value. Ripple’s acquisition of prime broker Hidden Road in 2025 signals a move into institutional market infrastructure within the broader ecosystem.

Evernorth offers simplicity and security for finance teams seeking XRP exposure. By buying listed shares, treasurers avoid the complexities of holding crypto directly while benefiting from public-company disclosures. The company plans to increase “XRP per share” over time by buying on the open market and using DeFi tools.

$1 billion in XRP purchases by Evernorth is significant but manageable for the market. Improved liquidity and market structure allow for smoother accumulation without major price disruptions. Evernorth’s success could make its stock an XRP proxy for indirect investors, creating a potential positive feedback loop in the market.

Watching Evernorth’s regulatory filings, funding mix, playbook disclosures, and governance will provide insight into the company’s readiness to scale its XRP strategy. Key factors to monitor include SEC filings, funding sources, treasury policies, governance structure, and early execution signals post-listing to gauge the company’s progress.

Read more at Cointelegraph: How Evernorth Plans to Make XRP a $1-Billion Corporate Treasury Asset