The new XRP-focused DAT would mirror the structures used by listed accumulators like Michael Saylor’s Strategy Inc. and Japan’s Metaplanet, both of which have seen their shares slide amid broader risk aversion.
By Shaurya Malwa|Edited by Omkar Godbole
Updated Oct 17, 2025, 6:09 a.m. Published Oct 17, 2025, 6:03 a.m.
- Ripple Labs is leading an effort to raise at least $1 billion through a special-purpose vehicle to accumulate XRP, despite recent market volatility.
- The initiative involves creating a new digital-asset treasury structure and marks one of the largest single raises tied to XRP.
- Ripple’s plan comes amid a fragile market, with the firm also acquiring GTreasury to enhance its corporate treasury offerings.
Ripple Labs is reportedly leading an effort to raise at least $1 billion through a special-purpose vehicle aimed at accumulating XRP, according to Bloomberg.
The raise will be conducted via a special purpose acquisition company (SPAC), with funds held inside a new digital-asset treasury (DAT) structure. Ripple itself plans to contribute a portion of its own XRP holdings, per the report, though final terms remain under discussion.
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If completed, the move would represent one of the largest single fundraises associated with XRP, one of the world’s largest tokens, which has a market capitalization of approximately $138 billion as of Friday.
The plan comes at a sensitive moment for the industry. Digital-asset markets are still digesting the fallout from last week’s U.S.–China trade shock that triggered nearly $19 billion in liquidations across crypto, dragging major tokens lower and testing sentiment around speculative assets. Bitcoin slid another 3% on Thursday, with altcoins seeing sharper drops.
Despite the volatility, Ripple appears to be pressing ahead with its long-term buildout. The firm on Thursday also announced the $1 billion acquisition of GTreasury, a corporate treasury software provider, positioning the deal as a bridge to finance chiefs and treasurers experimenting with tokenized deposits and stablecoins.
The new XRP-focused DAT would mirror the structures used by listed accumulators like Michael Saylor’s Strategy Inc. and Japan’s Metaplanet, both of which have seen their shares slide amid broader risk aversion.
Ripple’s initiative would mark a rare institutional-scale attempt to consolidate XRP exposure. The firm already holds about 4.7 billion XRP directly, worth roughly $11 billion, while another 35.9 billion tokens sit in monthly on-ledger escrows that unlock over time.
The bet is that controlled accumulation and treasury management can bring stability — or at least predictability — to XRP’s supply dynamics as the token plays a growing role in institutional payments and custody.
But with markets still fragile and sentiment thin, the timing is as bold as it is risky.
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The largest daily redemption since August reflects shifting sentiment after a record-breaking summer for ETF inflows and a growing link between macro risk, derivatives positioning, and bitcoin price action.
What to know:
- BTC and ETH ETFs registered outflows Thursday.
- BlackRock’s iShares Bitcoin Trust and Fidelity’s FBTC experienced significant outflows, losing $29 million and $132 million, respectively.
- Citi analysts noted bitcoin’s increased equity sensitivity, while Glassnode described the sell-off as a necessary reset after major futures deleveraging.
