Wall Street Fund's Biggest Bet Is Now Ripple Labs at 17.5%

C1 Fund Inc. (NYSE: CFND), a publicly traded fund focused on private crypto companies, disclosed that Ripple Labs equity is now its largest holding at 17.5% of net assets, edging out Kraken parent Payward, Inc. at 16.9%.

The fund reported the allocation in its second-quarter 2026 results, released August 31. Ripple Labs, the company behind the XRP token, is held here as private equity rather than as a token position.

Why Ripple Labs Leads the Portfolio

C1 Fund is a closed-end fund, a publicly traded vehicle with a fixed share count that trades like a stock. It holds stakes in 11 private crypto companies, including Kraken, BitGo, Chainalysis and ConsenSys. As of June 30, its net asset value (NAV) stood at $42.6 million, or $6.49 per share.

The fund's portfolio has grown from seven companies at the end of 2025 to 11 today. BitGo's clients on the platform grew 26% year over year to 5,833, the fund said. Payward's funded accounts rose 42% to 6.6 million over the same period.

Ripple Labs and Payward together make up more than a third of the portfolio. C1 Fund's board has authorized up to $3 million in buybacks. The shares repurchased through July, 249,300 in total, averaged about $3.31 each, roughly half the fund's per-share NAV.

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