Ripple said to lead $1 billion XRP treasury raise: Report
The planned vehicle would be the largest XRP-focused digital asset treasury yet, even as investor appetite for token accumulation stocks has weakened after the recent crypto selloff.
What to know:
- Ripple Labs is seeking to raise at least $1 billion via a special purpose acquisition company to create a public-market vehicle that will accumulate XRP.
- The proposed XRP-focused digital asset treasury, to which Ripple would contribute some of its own holdings, would be the largest known XRP treasury vehicle if completed.
- The plan will test whether there is sufficient institutional demand for XRP amid a cooling market for digital asset treasury companies that previously focused largely on bitcoin.
In this article
Terms are still under discussion and could change. Ripple did not immediately respond to CoinDesk’s requests for comment or confirmation.
If completed, the deal would be the largest known XRP treasury vehicle to date. XRP is the world’s fifth-largest token, with a market value of about $138 billion. It has gained 13% this year, compared with a 16% rise in bitcoin.
Digital asset treasury companies became one of crypto’s biggest stock-market trades in 2025, as listed firms used SPACs, reverse mergers and equity issuance to buy tokens. The model worked while crypto prices rose and investors paid premiums for balance-sheet exposure.
That trade has weakened, however. Shares of major token accumulators, including Strategy and Metaplanet, have fallen sharply in recent months as crypto prices turned choppy and investors started questioning how many public companies can run the same accumulation play at once.
