---
title: "Key facts: Evernorth to go public via SPAC; SBI invests $200M in XRP; XRP ETF approval odds rise to 99%"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/262131011.md"
description: "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."
datetime: "2025-10-22T00:03:10.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/262131011.md)
  - [en](https://longbridge.com/en/news/262131011.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/262131011.md)
generator: "portal-rs"
---

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

-   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

### Related Stocks

- [AACI.US](https://longbridge.com/en/quote/AACI.US.md)
- [XRPN.US](https://longbridge.com/en/quote/XRPN.US.md)

## Related News & Research

- [Armada Acquisition II FY26 Q3 net income rises to $1.63 million; interest income climbs to $2.13 million](https://longbridge.com/en/news/295778878.md)
- [Wolverine Asset Management LLC Acquires New Position in Armada Acquisition Corp. II $XRPN](https://longbridge.com/en/news/285380116.md)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**