Evernorth clears vote for Nasdaq debut with 473M XRP — SkimNews
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- Evernorth cleared its shareholder vote to debut on Nasdaq with a 473 million XRP treasury, backed by Ripple, Kraken, Pantera Capital, SBI Group, Arrington Capital, and GSR.
- Evernorth plans to grow per-share XRP holdings through yield strategies, participation in the XRP ecosystem, and capital markets activities.
- Securitize began trading on the NYSE in July after merging with Cantor Equity Partners II, while CoinShares made its Nasdaq debut in April following a $1.2 billion merger with Vine Hill Capital Investment Corp.
- Ether Machine scrapped its planned merger with Dynamix in April, citing unfavorable market conditions, ending plans to launch a $1.5 billion yield-bearing Ether fund.
- Bitcoin Standard Treasury Company and Cantor Equity Partners I scrapped their original merger terms in July, postponing a shareholder vote indefinitely while renegotiating to better reflect market conditions.
Why it matters: Evernorth's shareholder approval positions it as the largest dedicated XRP treasury headed for US public markets, with direct backing from Ripple itself. The article's contrast with two collapsed 2025 crypto-treasury SPAC deals (Ether Machine, Bitcoin Standard Treasury) shows Evernorth's smoother path isn't the norm — clearing a vote is not the same as completing a listing.
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