Evernorth has finally brought its “XRP treasury” to the U.S. stock market this time.
According to Wu’s report citing BeInCrypto, the merger between Evernorth and Armada Acquisition Corp. II (a SPAC) has been approved by a shareholder vote. It is scheduled to list on Nasdaq on October 8 under the ticker XRPN. The transaction and related private financing have raised more than $1 billion, with the core purpose being to build an institutional-grade XRP treasury.
Both observations are straightforward: first, after XRPN lists, whether the market will continue to concentrate the “compliant XRP exposure” on the U.S. side; second, if first-day enthusiasm is too high, the premium on XRPN and the price fluctuations in spot XRP trading could also be amplified in parallel. The article also mentions that Evernorth holds 473 million XRP on its books, with a market value of approximately $705 million.
Which would you rather see: how the premium performs after XRPN lists, or whether spot XRP trading volumes can follow through and keep the momentum going?
Figure 1: Evernorth approved to list on Nasdaq as XRPN on October 8 · Source: a partial screenshot from the page
Image source: https://www.wublock123.com/news/evernorth-xrp-treasury-spac-merger-approved-nasdaq-oct-8-69372
According to Wu’s report citing BeInCrypto, the merger between Evernorth and Armada Acquisition Corp. II (a SPAC) has been approved by a shareholder vote. It is scheduled to list on Nasdaq on October 8 under the ticker XRPN. The transaction and related private financing have raised more than $1 billion, with the core purpose being to build an institutional-grade XRP treasury.
Both observations are straightforward: first, after XRPN lists, whether the market will continue to concentrate the “compliant XRP exposure” on the U.S. side; second, if first-day enthusiasm is too high, the premium on XRPN and the price fluctuations in spot XRP trading could also be amplified in parallel. The article also mentions that Evernorth holds 473 million XRP on its books, with a market value of approximately $705 million.
Which would you rather see: how the premium performs after XRPN lists, or whether spot XRP trading volumes can follow through and keep the momentum going?
Figure 1: Evernorth approved to list on Nasdaq as XRPN on October 8 · Source: a partial screenshot from the page
Image source: https://www.wublock123.com/news/evernorth-xrp-treasury-spac-merger-approved-nasdaq-oct-8-69372
