Ripple Labs becomes C1 Fund's largest private company holding

Ripple Labs has become the largest private company holding in the C1 Fund portfolio as of the second quarter of 2026. Representing 17.5% of the NYSE-listed fund’s net assets, Ripple’s position is valued at approximately $7.46 million.

Ripple narrowly overtook Payward, the parent company of the cryptocurrency exchange Kraken, which accounted for 16.9% of net assets. The C1 Fund reported total net assets of $42.63 million, with $33.07 million invested across 11 private digital asset companies, including Alchemy, BitGo, Chainalysis, and ConsenSys. The fund also recently added Blockratize, the parent company of Polymarket, to its holdings.

The fund noted that Ripple’s weighting was influenced by a partial issuer buyback program, which generated an approximately 150% return for the fund within a four-month period. Beyond the C1 Fund, institutional interest in the sector remains active; for example, August 13F filings showed Goldman Sachs holding $86.5 million across five XRP ETFs.