Ripple Pursues $1B XRP Accumulation Vehicle Despite Market Headwinds

Ripple Labs is pursuing a $1 billion capital raise to build an XRP accumulation vehicle, Bloomberg reported Friday, pressing forward with ambitious expansion plans while crypto markets navigate significant volatility.

The company plans to establish a digital asset treasury using a SPAC structure, with Ripple contributing its own XRP tokens alongside outside capital, according to people familiar with the discussions. Details remain in flux and could shift as negotiations continue.

The move would create the largest dedicated XRP treasury operation, targeting the cryptocurrency that ranks fifth globally by market value at $141 billion. However, the timing comes as investor enthusiasm for corporate token hoarding strategies has cooled considerably.

Shares of prominent accumulation companies like Michael Saylor's Strategy and Japan's Metaplanet have tumbled in recent months, raising questions about the sustainability of the treasury model. Market conditions deteriorated further last week when a massive selloff drove record liquidations across crypto markets, with trade war tensions between the US and China adding to broader uncertainty.

XRP has nevertheless outperformed during the turbulence on a relative basis, posting a 6.36% gain for 2025 compared to Bitcoin's 10.85% advance. The token has attracted limited treasury interest compared to Bitcoin, with sustainable energy company VivoPower's $121 million XRP pivot in May being a rare example.

More than 300 companies now operate Bitcoin treasuries following a wave of public listings through reverse mergers and SPAC transactions throughout 2025, according to BitcoinTreasuries.net data. The XRP treasury ecosystem remains far smaller by comparison.

Ripple separately announced plans Thursday to acquire GTreasury, a treasury management software provider, for $1 billion. The company framed the acquisition as expanding access points for corporate treasurers interested in stablecoins, tokenized deposits and similar products.

Company disclosures show Ripple controlled 4.74 billion XRP tokens as of late July, valued near $11 billion at today's prices. An additional 35.9 billion tokens sit in escrow arrangements with scheduled monthly releases.