- Software engineer Vincent Van Code highlights compliance barriers for firms holding XRP.
- Evernorth plans to acquire $1 billion in XRP for institutional treasury operations.
- Seven XRP ETF applications await SEC approval amid ongoing government shutdown delays.
XRP-focused software engineer Vincent Van Code has shared new analysis explaining why institutional adoption of the token faces operational challenges. His insights come as major developments like Evernorth continue to unfold within the ecosystem.
Van Code pointed to compliance and operational obstacles that prevent large corporations from directly holding XRP. He noted that major firms cannot simply establish basic wallets and transfer hundreds of millions of dollars into them. These institutional barriers require more complex infrastructure and regulatory frameworks.
ETF applications remain in regulatory limbo
The engineer’s analysis supports the case for XRP exchange-traded funds as a solution for institutional entry. Many community members view ETFs as the primary catalyst that will enable large-scale participation in the XRP ecosystem.
Seven applications for XRP ETFs currently await decisions from the Securities and Exchange Commission. The ongoing U.S. government shutdown has put these filings on hold, delaying potential approvals. Despite the regulatory pause, announcements about XRP treasury initiatives continue to emerge.
Evernorth has attracted attention as the largest institutional treasury project announced to date. The venture, backed by Ripple, intends to purchase $1 billion worth of XRP. The company will launch with over 560 million XRP after securing $1.1 billion in committed capital from investors including Ripple and SBI Holdings.
Treasury model offers institutional pathway
Many analysts view Evernorth as part of Ripple’s strategy to build institutional liquidity networks. The firm provides a model for corporations seeking exposure to XRP without navigating the complexities of direct token custody.
Van Code expressed heightened optimism following his analysis of these developments. “This is insane. I’m super bullish now, more than ever, on ETFs and Evernorth,” he stated in his post.
Evernorth is currently working toward a merger scheduled to close in Q1 2026. The company plans to execute XRP purchases within 10 days of receiving funding. The immediate price impact of the announcement has been limited, though Van Code suggests the long-term effects could be more pronounced.
As Ripple builds partnerships and infrastructure through initiatives like Evernorth, combined with anticipated ETF launches, institutions will gain more accessible entry points to the XRP ecosystem. These regulated financial products address the compliance concerns that have slowed direct institutional participation.
For the community, these developments signal a transition toward mature adoption mechanisms. Institutions can gain exposure to XRP through compliant channels without managing direct token custody. This infrastructure could remove barriers that have prevented larger firms from entering the ecosystem in previous years.
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