473 Million XRP Is Headed for Nasdaq Next Week: Is the Bet Already Underwater?
Evernorth is set to begin trading on Nasdaq under the ticker XRPN after its SPAC merger closes, with a large XRP treasury already in place. The shareholder vote on the merger was completed on September 30, and the treasury is described as roughly 473 million XRP, worth about $710 million at current prices in one account of the event.
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Evernorth’s planned Nasdaq listing affects shareholders and people watching XRP exposure through stocks, because the company is set to trade under XRPN once the merger closes. The event also puts a large XRP treasury in view for the market when the listing begins, rather than only a direct coin purchase route.
Before the merger closes, the structure remains a stock listing tied to an XRP treasury rather than a direct crypto holding for investors. What changes in practice is the trading venue and ticker, while the underlying setup described here still centers on Evernorth holding XRP on its books.
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Has this happened before?
| When | What happened | Figure |
|---|---|---|
| 24 days ago | Animoca puts Currenc merger on ice, delaying its Nasdaq debut event | 1 actors in common · 2 news media |