Evernorth, an XRP-focused digital asset treasury company, begins trading on Nasdaq following the closing of its SPAC merger. One report says Evernorth’s shares start at a higher valuation than some early expectations, while another notes that the company holds about 473 million XRP. That XRP stash is reported to be worth less than at the time of the SPAC deal, with one outlet estimating a decline versus the price paid at signing.
At the market open, Cointelegraph reports the stock rises as investors welcome the listing of a “pure-play” XRP treasury. Other coverage focuses on how Evernorth plans to use its XRP holdings, including lending, liquidity provision and yield-oriented strategies. The Block adds that Evernorth appoints a former Coinbase investment executive to help manage the treasury and guide these plans as the Nasdaq debut unfolds. The outlets also differ in emphasis on the impact of SPAC investors cashing out before the deal closed versus investor sentiment at the start of trading.
