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Less than a week after its debut, Evernorth, a new format XRP-focused treasury company, has emerged as one of the most profitable institutional entrants of crypto.
The company is fast accumulation of almost $1 billion of XRP has already generated an estimated $75 million in unrealized gains, signaling that Wall Street’s quiet pivot toward the token may already be underway.
The accumulation of $ 1 billion XRP
On October 27, blockchain analytics platform CryptoQuant reported that Evernorth spent about $947 million to acquire 388.7 million XRP during its first week of operation. This effectively completes about 95% of the firm’s $1 billion XRP purchase goal.
Notably, this aggressive, publicly documented buying streak is unprecedented for an altcoin out there. ethereumand Solana, highlights how fast institutional sentiment towards XRP is changing.
Interestingly, the aggressive accumulation contributed to the recent 6% of the token to a high of $2.64 in the past week.
According to CryptoSlate’s first modelXRP is expected to reach this price level if the large-scale institutional buyer enters the market aggressively. This prediction seems to be materializing now.
At current market prices of $2.61, Evernorth has more than $75 million in paper profits because its average entry price was $2.44.
If Evernorth maintains its current pace, CryptoSlate Analysis estimates that it could absorb up to 2% of XRP’s liquid supply within a year. This would significantly reduce retail-led volatility and potentially strengthen asset price depth.
How Evernorth works
Evernorth is a publicly traded digital asset treasury designed to give investors direct exposure to XRP through traditional stock markets.
The company plans to list on the Nasdaq through a special purpose acquisition company (SPAC) merger valued at $1 billion. This deal is backed by $200 million from SBI Holdings and additional support from Pantera Capital, Kraken, GSR and Ripple co-founder Chris Larsen.
Their model combines corporate balance sheet strategy with blockchain performance generation. Instead of just holding tokens, Evernorth intends to lend, provide liquidity and participate in DeFi performance programs which would help grow XRP by share over time.
That active treasury approach draws comparisons to MicroStrategy’s Bitcoin ledger, where consistent accumulation has narrowed supply and created a proxy equity vehicle for crypto exposure.
Asheesh Birla, CEO of Evernorth, he said: :
“This approach is designed to generate returns for shareholders while supporting the utility and adoption of XRP. It is a symbiotic model: our strategy is designed to align with the growth of the XRP ecosystem.”
Strong institutional drive
The timing of Evernorth’s entry coincides with growing momentum for regulated XRP investment products and treasury purchases.
Other XRP treasury plans
| Company | Ticker | Announced Allocation (USD) | Purpose / Strategy | Status / Notes |
|---|---|---|---|---|
| Trident Digital Tech Holdings | TDTH | Up to $500 million | Large Scale XRP Treasury; staking/yield generation | Plan announced; execution details pending |
| Webus International | VETO | Up to $300 million | The digital asset treasury focused on XRP | Filed SEC Form 6-K; conversion into shares is not clear |
| VivoPower International PLC | Vvpr | Look up. $100 million | Use XRP for performance via staking/lending | Treasury strategy announced |
| Wellgistics Health, Inc. | WGRX | $50 million | Treasury reserve + cross-border seller payments with XRP | Announced 2025; keep the status not fully public |
| Nature’s Miracle Holding Inc. | NMHI | $20 million | diversification of the treasury; technological operations of vertical farming | Plan disclosed; probably partial execution |
| Hyperscale Data Inc. | GPUS | $10 million | Blocked reserve and loan plans with XRP | Engagement on a smaller scale |
| Worksport Ltd. | WKSP | Look up. $5 million (six figures)† | Treasury + payment strategy with XRP (and BTC) | advance disclosure; part of the “10 companies building XRP treasuries” list. |
| Evernorth Holdings Inc. | (SPAC target XRPN expected) | More than $1 billion | Create the largest XRP institutional treasury via public listing | Plans announced, backed by Ripple & SBI; Pending SPAC Merger |
| SBI Holdings | — | Investment of $200 million in Evernorth | Strategic support of the large-scale XRP treasury initiative | Not directly a treasure just buy; part of supporting the Evernorth initiative |
Last week, the asset management company REX-Osprey confirmed what is XRPR ETFthe first US exchange-traded fund to offer direct exposure to XRP, had surpassed $100 million in assets under management (AUM) barely a month after launch.
The milestone reflects growing institutional appetite for compliant XRP vehicles following Ripple’s legal victory.
Meanwhile, the enthusiasm extends beyond these institutional financial vehicles, as XRP is also capturing the interests of prominent crypto traders.
Crypto trader James Wynn little time announced plans to allocate a “significant part” of its portfolio to XRP, calling it a transformative bet on the global payment infrastructure.
In a separate post, he imagined the XRP price reaching $500 per coin and central banks using their premium to compensate. the $38 trillion US debt.
He believes that this scenario will create a “brand new financial system”, which will put “Ripple at the center of everything”.
This projection reflects how deeply the narrative of the asset still attracts the online crypto community. While such predictions are far from realistic, they highlight the cultural persistence of XRP’s “underdog” status even as institutional validation grows.
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