Ripple Leads $1B SPAC for Institutional XRP Reserve

Ripple Labs is leading a SPAC effort to raise at least $1 billion to create a digital-asset treasury (DAT) that will steadily accumulate and manage XRP, and Ripple is expected to contribute part of its own liquid holdings. If completed, the fundraise would become the largest institutional XRP-focused reserve, leveraging Ripple’s roughly 4.7 billion liquid XRP and tens of billions more held in escrow. Ripple’s roughly $1 billion acquisition of treasury software provider GTreasury is being paired with the SPAC plan and is being framed as a push to more directly integrate XRP and Ripple USD (RLUSD) into corporate treasury workflows. The initiative follows the company’s recent legal clarity with regulators and comes amid volatile markets and a broader trend of corporates building crypto treasuries dominated so far by Bitcoin and Ether. Several other firms have explored smaller XRP treasuries, but final terms remain under negotiation and the project faces execution, market and regulatory risks.