Evernorth’s $1B XRP Treasury Fund Shakes Crypto Markets

Wall Street meets blockchain in the biggest institutional crypto play yet.

The XRP Power Move

Evernorth just dropped a billion-dollar bet on digital assets—creating the largest corporate XRP treasury in history while traditional finance scrambles to keep up. The funding round screams institutional confidence despite regulatory headwinds that would make most bankers sweat.

Ripple Effect

That $1 billion capital injection signals more than just deep pockets—it's a fundamental shift in how major players view digital asset allocation. While legacy institutions debate custody solutions, forward-thinking firms are building war chests.

Of course, some Wall Street veterans will call it reckless until they quietly launch their own crypto divisions six months from now. The money always follows the money, even when it's pretending to be cautious.

What Is Evernorth?

The initiative aims to create a transparent, actively managed XRP treasury offering institutional investors liquid exposure and yield opportunities across both traditional and decentralized finance. The transaction is expected to close in Q1 2026, pending regulatory and shareholder approvals.

Evernorth is a publicly listed vehicle designed to give institutional investors active exposure to XRP. 

Unlike a passive ETF, it will pursue yield through open-market accumulation, institutional lending, liquidity provision, and DeFi strategies.

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Evernorth was founded as a regulated, scalable investment vehicle to tap into opportunities for… https://t.co/nxHzATwcIK

The model prioritizes increasing XRP per share and expanding ecosystem participation. The deal represents more than $1 billion in potential gross proceeds. 

This includes a $200 million commitment from SBI Holdings, alongside investments from Ripple, Rippleworks, Pantera Capital, Kraken, and GSR.

The venture is led by Asheesh Birla, a former Ripple executive, supported by senior leaders in finance, operations, legal, and corporate development. 

Most net proceeds will fund systematic XRP accumulation, building a resilient treasury, while a smaller share will cover operations.

I’m proud to share that we’ve launched @evernorthxrp, a first-of-its-kind institutional vehicle built to accelerate XRP adoption. With over a decade of uptime and a rapidly growing DeFi ecosystem, XRP is well-positioned for adoption — and Evernorth is built to meet that moment.… pic.twitter.com/2YGgQsNWCd

Strategy and Ecosystem Role

Evernorth’s plan extends beyond treasury management. It aims to run XRP Ledger validators to strengthen decentralization, integrate Ripple’s RLUSD stablecoin as a DeFi bridge, and back projects that expand XRP’s role in payments, tokenization, and capital markets.

This framework balances liquidity, compliance, and ecosystem growth, positioning Evernorth as a hybrid bridge between institutional capital and real-world XRP utility.

The combined company’s ticker,, is expected to trade on Nasdaq after regulatory clearance. 

Governance will remain operationally independent, with Ripple acting as a strategic investor and ecosystem executives serving as advisers. 

The merger is projected to close by, subject to standard approvals. Transparent governance and clear regulatory communication will be critical during the transition.

XRP Market Reaction

Following the announcement, XRP’s price ROSE 3% to $2.48, according to BeInCrypto data. Analysts noted that Evernorth’s structure could bring measurable liquidity and stability to the XRP ecosystem.

If executed with precision, the model could turn Evernorth into a key institutional gateway, offering both active yield generation and ecosystem support. 

Its success will depend on capital allocation efficiency, risk management, and consistent growth in XRP per share.