C1 Fund Increases Stake in Ripple Labs to Largest Holding
C1 Fund Inc. (NYSE: CFND), a publicly traded fund focused on private crypto companies, has increased its stake in Ripple Labs to 17.5% of net assets, making it the largest holding in its portfolio as reported in Q2 2026 results released August 31. This allocation surpasses Kraken's parent company Payward Inc., which holds a slightly smaller position at 16.9%. The fund currently owns stakes in 11 private crypto firms and has expanded from seven holdings by the end of 2025. C1 Fund’s net asset value (NAV) as of June 30 was $42.6 million, or $6.49 per share. However, its shares trade at a significant discount—$2.87 versus NAV—which is wider than the price point implied by recent buybacks averaging around $3.31 each. The fund has authorized up to $3 million in repurchases and currently holds over 50% of its portfolio in Ripple Labs and Payward combined. Ripple Labs, which owns XRP but remains private, is expected to deliver further gains for C1 Fund if it pursues a public listing. Earlier buybacks by Ripple returned about 150% on the fund’s investment within four months.
Topics: C1 Fund crypto investments portfolio allocation Ripple Labs