Evernorth XRP Treasury Lists on Nasdaq with Uncertain Impact
Evernorth, a company set up to manage XRP, has successfully completed its shareholder vote and is now poised to list on Nasdaq. The listing will make available around $300 million in cash from private placements and convertible notes.
The company's CEO, Asheesh Birla, stated that the listing provides investors with 'a regulated, transparent way to own XRP exposure.' Evernorth has a 473 million XRP treasury, which is approximately 0.5% of XRP's total supply and currently valued at around $705 million.
However, the company's decision to purchase 84.4 million XRP at an average price of $2.54 each on November 4, 2025, now appears to be a loss-making move. At the current XRP price, those coins are worth about $126 million, representing a paper loss of around $88 million or 41%.
Evernorth's future is uncertain and may swing in either direction depending on several factors. If XRP prices remain low and its debts come due, the company may have no choice but to sell.