EverSource Joins Institutional XRP Frenzy with $3.6B Asset Holdings

EverSource Wealth Advisors, a $3.6 billion asset management firm, has disclosed significant holdings in XRP ETFs and other crypto-related stocks. The latest 13F filing with the US SEC reveals that the financial advisor holds 1,777 shares of ProShares Ultra XRP ETF and small positions in Franklin XRP ETF.

The firm also reported holdings in Ripple-backed Evernorth Holdings' SPAC Armada Acquisition Corp II (XRPN) stock, with 250 shares valued at an undisclosed amount. This investment comes as Evernorth Holdings prepares to merge with Armada Acquisition Corp II.

In addition to XRP ETFs, EverSource Wealth Advisors revealed holdings in multiple spot Bitcoin ETFs, including BlackRock's IBIT and Fidelity's FBTC. The firm holds significant shares in Strategy (MSTR) and other crypto stocks.

The increased institutional interest in XRP is attributed to the growing regulatory clarity and partnerships between Ripple and Wall Street companies. As a result, spot XRP ETFs saw net inflows of $8.15 million last week, with cumulative inflows reaching $1.49 billion since inception.