HomeCryptocurrency NewsEvernorth’s XRP treasury shares rise 5% in Nasdaq debut

Evernorth’s XRP treasury shares rise 5% in Nasdaq debut

Posted: 12 October 2026, 17:12 CET 1 min read

Evernorth Holdings shares rose as much as 5% in their Nasdaq debut on Monday. The XRP treasury company expects to hold about 473 million tokens.

Evernorth Holdings shares rose as much as 5% in their Nasdaq debut on Monday, trading under the ticker XRPN. The company expects to hold about 473 million XRP, currently worth about $657 million. It said the holdings would make it the largest publicly traded XRP treasury company.

Evernorth appointed Hugo Jeandesboz, former co-chief investment officer at Coinbase Asset Management, as chief investment officer on Monday. He will oversee treasury allocation, liquidity management and the active management of the company’s XRP holdings.

The company plans to seek additional income from its XRP holdings through decentralized finance, or DeFi, yield strategies. DeFi protocols allow users to deposit digital assets and potentially earn returns. Evernorth did not provide details about the strategies it plans to use.

Shareholders of blank-check company Armada Acquisition Corp. II approved a combination with Evernorth on Oct. 2. The transaction allowed Evernorth to become a publicly traded company and pursue its XRP treasury strategy through a Nasdaq listing.

XRP recently traded at $1.39, with about $1.48 billion in trading volume over the previous 24 hours, according to CoinGecko data. At that price, the token had a market capitalization of about $87.8 billion, making it the fifth-largest cryptocurrency.

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