Ripple Labs is reportedly leading an initiative to raise at least $1 billion through a special purpose acquisition company to establish a public-market vehicle focused on accumulating XRP, according to CoinDesk. This proposed XRP-focused digital asset treasury would be the largest of its kind if completed, testing institutional demand for XRP amid a cooling market for digital asset treasuries. Ripple is expected to contribute some of its own XRP holdings to the vehicle. The terms are still under discussion and could change.