CryptoMedium•13 October 2026•
1 min read
Ripple-Backed Evernorth Nasdaq Listing Sparks Liquidity and Dilution Concerns
Key Facts
1Ripple-backed Evernorth debuted on Nasdaq via a SPAC merger, providing brokerage access to XRP.
2The company holds a $677 million treasury but faces risks related to a thin float and potential dilution.
Ripple-backed Evernorth debuted on Nasdaq following a merger with a special purpose acquisition company (SPAC). According to cryptonews.com, the listing is designed to provide brokerage access to XRP, bridging the gap between traditional finance and digital assets.
The company maintains a treasury valued at $677 million but faces significant structural risks. Reports indicate concerns over a thin public float and potential investor dilution, while NDAQ shares closed at $94.29 on October 12, 2026.