XRP-Fueled Evernorth Set for NASDAQ Bell Amid $450 Million Valuation Disconnect

Today at 4:00 p.m. New York time, the management of treasury company Evernorth Holdings will ring a symbolic closing bell at NASDAQ. The ceremony is timed to the start of trading in shares under the ticker XRPN following the merger with the SPAC platform Armada Acquisition Corp. II. With this step, Wall Street opens trading in the largest public fund based on the XRP token ; however, the celebration's first day is accompanied by a steep market discount and regulatory restrictions. Unlike classic spot ETFs, which passively hold the cryptocurrency, Evernorth is launching an actively managed strategy.