The initiative aims to establish the largest XRP-centric digital asset treasury to date, amidst a decline in investor interest for token accumulation stocks following a recent crypto downturn.
By Shaurya Malwa May 30, 2026, 11:35 a.m. 2 min readMake preferred on (CoinDesk)Key points:
- Ripple Labs intends to raise a minimum of $1 billion through a special purpose acquisition company (SPAC) to create a public-market entity focused on accumulating XRP.
- If realized, this XRP-centered digital asset treasury, to which Ripple will add a portion of its own holdings, would represent the largest known XRP treasury vehicle to date.
- This plan will gauge whether there is enough institutional interest in XRP, particularly as the market for digital asset treasury firms has cooled, especially those that previously concentrated on bitcoin.
According to a report from Bloomberg, Ripple Labs is taking the lead in an initiative to secure at least $1 billion for a new public-market vehicle aimed at accumulating XRP, testing the viability of digital asset treasury strategies beyond bitcoin.
The funds will be raised via a SPAC, as reported by sources familiar with the situation. The new treasury will hold XRP, with Ripple expected to contribute some of its own assets to this initiative.
Details of the arrangement are still being negotiated and may be subject to change. Ripple has not yet responded to inquiries from CoinDesk for further information or confirmation.
Should this initiative be finalized, it will mark the largest known XRP treasury vehicle to date. Currently, XRP ranks as the fifth-largest cryptocurrency, boasting a market capitalization of approximately $138 billion, having appreciated 13% this year compared to a 16% increase in bitcoin.
In 2025, digital asset treasury firms emerged as a significant trend in the crypto stock market, as publicly listed companies utilized SPACs, reverse mergers, and equity offerings to acquire tokens. This model thrived during a period of rising crypto prices when investors were willing to pay premiums for exposure to these assets.
However, this trend has recently diminished. Stock prices of major token accumulators, such as Strategy and Metaplanet, have sharply declined in recent months as cryptocurrency prices became more volatile, leading investors to question the sustainability of multiple public companies engaging in similar accumulation strategies simultaneously.
Ripple’s endeavor will assess whether there is substantial institutional demand for XRP to support a similar structure.
Unlike bitcoin, XRP has not attracted as much interest from treasury companies. A notable example occurred in May when VivoPower announced a $121 million raise to shift its focus toward XRP investments.
Ripple has its motivations for supporting a larger treasury vehicle. As of July 31, the company held 4.74 billion XRP in its wallets, valued at around $11 billion based on current prices. Additionally, 35.9 billion XRP are locked in escrow accounts, set for monthly releases.
A public XRP treasury could introduce a new demand for the token while offering Ripple an alternative method to distribute part of its holdings to investors.
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