$248 Million Mutual Fund Invests in Ripple. Does It Matter for XRP?
Kinetics Internet Portfolio, a mutual fund with $248 million in assets, disclosed a direct equity stake in Ripple Labs itself rather than in XRP, according to a newly filed SEC report.
The distinction matters. Institutional money is choosing Ripple, the company, over XRP, the token.
What the SEC Filing Actually Shows
Form NPORT-P is the quarterly report registered investment funds file with the Securities and Exchange Commission (SEC), disclosing portfolio holdings. Kinetics filed its version as part of Kinetics Portfolios Trust.
The fund acquired Class A common shares issued directly by Ripple Labs. That structure gives Kinetics ownership of the company itself, not exposure to the cryptocurrency that bears its name.
According to the SEC filing, the stake is valued at roughly $246,000, representing a small fraction (about 0.1%) of the fund's approximately $248 million in net assets.
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The filing reflects holdings as of June 30, but regulatory reporting delays kept the information private until August.
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