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Crypto

Evernose, major XRP holder, nears Nasdaq listing under ticker XRPN

Evernose Holdings, a treasury company with large XRP holdings, has entered final approval steps for a Nasdaq listing through a merger with SPAC Armada Acquisition Corp II. The combined company is expected to trade under the ticker XRPN and hold about 473 million XRP provided directly by Ripple. It has secured investment commitments of more than $1 billion from institutional investors. The deal’s closing timing is presented as the fourth quarter of 2026.

Crypto

XRP ETFs see net inflows despite range-bound price; Bitwise, Franklin lead

XRP spot exchange-traded funds recorded about $22.65 million of net inflows on Sept. 25, led by Bitwise and Franklin products, while XRP’s spot price weakened. Bitwise’s XRP ETF drew about $18.39 million and Franklin’s added about $4.26 million. Total XRP spot ETF net assets were about $1.77 billion, with cumulative net inflows of about $1.79 billion. Bitcoin and ether spot ETFs also logged net inflows the same day.

Industry

Kakao blocks Kakao Mobility U.S. ADR listing, opposes TPG stake securitisation structure

Kakao has moved to block Kakao Mobility’s push to list American depositary receipts in the United States, objecting to a structure focused on liquidity for second-largest shareholder TPG’s existing stake. Kakao’s board said it opposed proceeding under the current plan after reviewing shareholder protection measures and the impact on Kakao and its common shareholders. Kakao also cited concerns over dual listing burdens, NAV discount expansion and potential conflicts of interest.