Evernorth Holdings shares rose as much as 5% at the opening of trading on Nasdaq, marking the public-market debut of a company built around holding and managing XRP. The listing gives investors exposure to a publicly traded business whose treasury strategy is centered on the cryptocurrency.
According to Cointelegraph, the company trades under the ticker XRPN and is the first pure-play XRP digital asset treasury to list on the exchange. The initial gain came as investors responded to the company’s arrival on Nasdaq.
New investment chief takes charge
Evernorth also announced the appointment of Hugo Jeandesboz as chief investment officer. Jeandesboz previously served as co-chief investment officer at Coinbase Asset Management.
In his new role, he will oversee the company’s treasury strategy. That includes decisions on treasury allocation, liquidity management and the active management of Evernorth’s XRP holdings.
The company does not plan simply to hold its XRP. It said it deploys part of its holdings in decentralized finance, or DeFi, yield strategies to generate additional income. DeFi generally refers to financial services and applications built on blockchain networks rather than traditional financial institutions.
A planned XRP treasury of $657 million
Evernorth’s public listing followed a combination with blank-check company Armada Acquisition Corp. II. Shareholders approved the transaction on Oct. 2.
Following the combination, the company expects to hold about 473 million XRP. Based on the valuation cited in the source material, that position is currently worth approximately $657 million. Evernorth said the holdings would make it the largest publicly traded XRP treasury company.
A treasury company built around a digital asset holds that asset as a central part of its corporate balance sheet and manages it as part of its business strategy. Evernorth’s approach adds liquidity management and DeFi activity to that exposure, while its stock gives investors a way to participate in the company through the Nasdaq market.
XRP market picture
Moneyiar data recorded XRP at $1.3612835505 at 09:49 on Oct. 13, 2026, Tehran time. The token was down 2.76% over the previous 24 hours and 9.37% over the previous seven days.
The source’s CoinGecko figures had placed XRP at $1.39, with $1.48 billion traded in the preceding 24 hours. At that level, XRP’s market capitalization was approximately $87.8 billion, making it the fifth-largest cryptocurrency.
The difference between the CoinGecko figure cited in the report and Moneyiar’s later market reading reflects the separate times at which the data was recorded. Evernorth’s share performance and the value of its planned XRP holdings will therefore remain linked to movements in the underlying token, while the company’s treasury team also manages liquidity and its DeFi strategy.
