Evernorth Holdings surges 13% on Nasdaq debut, holds 473M XRP

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Evernorth Holdings (XRPN) made its Nasdaq debut on October 12, with shares rising 13.43% at one point before closing up 1.49%. The company holds 473 million XRP, valued at $657 million, and claims to be the largest publicly traded XRP treasury firm. Hugo Jeandesboz, former co-CIO of Coinbase Asset Management, has joined as CIO to oversee treasury strategy. The company plans to enhance returns through DeFi yield strategies. This on-chain development underscores a major digital asset news event.

According to Huoxing Finance, on October 12, according to BIT (Bit.com) market data, Evernorth Holdings (XRPN), a company focused on XRP treasury management, officially listed on Nasdaq today. On its first day of trading, the stock rose as much as 13.43% before retreating, and is currently up 1.49%. The company expects to hold approximately 473 million XRP, valued at around $657 million at current prices, and claims it will become the largest publicly listed XRP treasury company globally. On the same day, Evernorth announced the appointment of Hugo Jeandesboz, former Co-Chief Investment Officer at Coinbase Asset Management, as its Chief Investment Officer, responsible for treasury strategy, liquidity management, and active management of its XRP holdings. Evernorth also plans to generate additional yield for its XRP holdings through decentralized finance (DeFi) yield strategies. XRP is currently trading at approximately $1.371, with a 24-hour trading volume of about $1.48 billion and a market capitalization of around $87.3 billion, ranking fifth among cryptocurrencies by market cap.

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