Nasdaq-listed VivoPower fires off $121M fundraising for XRP treasury

Nasdaq-listed VivoPower has just revealed plans to raise $121M to launch an XRP-focused treasury strategy — a strategic move that potentially positions VivoPower as the first publicly traded company to adopt XRP as a primary treasury reserve asset. 

The playbook VivoPower now seems to be following shares many similarities with Michael Saylor’s Strategy, as it basically involves raising money to purchase and add digital assets to their treasuries.

It has helped Strategy become the largest corporate holder of Bitcoin, and many other companies outside America have been paying close attention.

For public firms looking to try out the playbook, BTC remains the most sought-after asset. However, recent newcomers like DeFi Development and SharpLink Gaming have also directed their focus to Solana and Ethereum, respectively.

VivoPower $VVPR Announces XRP-Focused Digital Asset Treasury Strategy and US$121 Million Private Placement Priced at US$6.05 Per Share, Above Last Market Closing Price Under NASDAQ Rules

𝗥𝗘𝗔𝗗 https://t.co/Tf10EkwbUy pic.twitter.com/u0U7ND5KfR

— VivoPower_PLC (@Vivo_Power) May 28, 2025

The fundraising was reportedly led by a Saudi Prince

VivoPower International (VVPR) revealed its agreement on Wednesday, and according to reports, the millions raised will fund its pivot to digital asset treasury, focusing on XRP.

The fundraising effort was reportedly spearheaded by Saudi Prince Abdulaziz bin Turki Abdulaziz Al Saud, chairman of Eleventh Holding Company, who invested $100 million, according to a company spokesperson.

“After reviewing a number of listed vehicles seeking to embrace a digital asset treasury model, we selected VivoPower given its strategic focus on XRP and its objective to contribute to building out of the XRPL ecosystem,” Prince bin Turki Abdulaziz Al Saud said in a statement in the press release. “We have been investors in the digital asset sector for a decade and have been long-term holders of XRP.”

The company will sell 20 million ordinary shares priced at $6.05 per share, according to a Wednesday SEC filing.

Adam Traidman, a former executive of SBI Ripple Asia, is also involved and was brought on as chairman of the board of advisors, according to the press release. After the news broke, VivoPower shares pumped by as much as 26%, but a correction quickly followed.

The SEC is reviewing proposed XRP spot ETFs

News of VivoPower’s interest in XRP comes at a critical time for the cryptocurrency. Not long before the news broke, the U.S. Securities and Exchange Commission (SEC) announced that it formally initiated a review of the WisdomTree XRP Trust, a proposed spot exchange-traded fund (ETF) that would provide investors with exposure to XRP.

The application, which was filed by the Cboe BZX Exchange, is the first formal SEC review of a U.S.-based spot XRP ETF, and if approved, would become the first spot XRP ETF in the U.S.

The product would track XRP’s market price via the CME CF Ripple-Dollar Reference Rate, granting investors access to XRP through traditional brokerage accounts, bypassing the need for private keys or self-custody.

The SEC published its notice under Release No. 34-103124, and now has up to 240 days to approve or reject the filing. While everyone waits for the outcome, the agency has encouraged the public to share opinions on whether the ETF’s design adequately addresses concerns related to market manipulation and investor protection.