Key facts: Evernorth to go public via SPAC; SBI invests $200M in XRP; XRP ETF approval odds rise to 99%

Evernorth, supported by Ripple, is set to go public on Nasdaq through a SPAC merger with Armada Acquisition Corp, aiming to raise over $1 billion for XRP acquisition. SBI Holdings has invested $200 million in Evernorth to enhance XRP adoption and establish a public XRP treasury. Additionally, the likelihood of XRP ETF approval by 2025 has surged to 99%, influenced by recent shifts in sentiment due to the government shutdown.

Evernorth, backed by Ripple, plans to go public on Nasdaq through a SPAC merger with Armada Acquisition Corp, aiming to raise over $1 billion to acquire XRP for institutional use.1
SBI Holdings has invested $200 million in Evernorth to boost XRP adoption, planning to buy XRP on the open market and create a public XRP treasury for value growth.2
The probability of XRP ETF approval by the end of 2025 has risen to 99%, as reported by Polymarket, following a change in sentiment related to the recent government shutdown.3