The first U.S.-based spot XRP ETF has recently surpassed $100 million in assets under management (AUM). This landmark achievement is fueled by a combination of institutional investment and ongoing regulatory filings. Evernorth Holdings, which launched the ETF, has seen significant growth, primarily driven by Chris Larsen’s initiative to build a substantial XRP treasury. This move has attracted more than $100 million in assets, positioning Evernorth as a leading player in XRP investment. 50 million XRP were transferred by Ripple co-founder, Chris Larsen, to support this initiative, highlighting the importance of institutional backing for driving market activity.