Ripple Labs becomes largest holding in C1 Fund portfolio

Ripple Labs has become the largest holding in the portfolio of C1 Fund Inc., a publicly traded fund focused on private digital asset companies, overtaking Kraken's parent firm. The shift was disclosed in the fund's second-quarter results for the period ending June 30, 2026, released on August 31.

According to the filing, Ripple Labs equity accounted for 17.5% of C1 Fund's net assets as of June 30. This positioned it ahead of Payward Inc., the parent company of cryptocurrency exchange Kraken, which represented 16.9% of net assets. The fund's total net asset value stood at $42.6 million, or $6.49 per share. Based on these figures, the Ripple stake was valued at approximately $7.46 million, while the Payward position was worth about $7.20 million.

The increase in Ripple's weighting was influenced by a partial share buyback transaction. In April, C1 Fund sold 1,407 Ripple Series A preferred shares back to the company for $422,100. The fund stated this transaction generated an approximate 150% return on the shares involved over roughly four months. This partial exit reduced, but did not eliminate, C1 Fund's exposure, with the remaining position becoming the fund's largest holding.