XRPN starts trading on Nasdaq today: one stock holding 473.3M XRP.
Its own 8-K shows two prices for that XRP:
· 388.1M XRP came in kind from Ripple, a Ripple-affiliated trust and Arrington's XRP fund, valued at the deal's closing XRP price, $1.43069.
· 84.4M XRP were bought with $214M of investor cash, about $2.54 each.
XRP now: $1.42. The cash-bought XRP is down 44% before the first XRPN trade.
For scale, our ETF tape: all US spot XRP ETFs took in $1.85B net since Nov 13. XRPN brings ~$670M of XRP in a single ticker.
Its own 8-K shows two prices for that XRP:
· 388.1M XRP came in kind from Ripple, a Ripple-affiliated trust and Arrington's XRP fund, valued at the deal's closing XRP price, $1.43069.
· 84.4M XRP were bought with $214M of investor cash, about $2.54 each.
XRP now: $1.42. The cash-bought XRP is down 44% before the first XRPN trade.
For scale, our ETF tape: all US spot XRP ETFs took in $1.85B net since Nov 13. XRPN brings ~$670M of XRP in a single ticker.