C1 Fund Bets Big on Ripple Labs with 17.5% Stake

A Wall Street closed-end fund, C1 Fund Inc., has revealed that Ripple Labs is its largest holding at 17.5% of net assets.

This information was disclosed in the fund's second-quarter results, which were released on August 31.

Ripple surpassed Kraken parent Payward, Inc., which holds 16.9%, to become the largest holding in C1 Fund's portfolio.

C1 Fund holds stock in Ripple Labs, a private company, rather than owning XRP tokens directly.

The fund has a total net asset value of $42.6 million across its 11 portfolio companies, which equals $6.49 per share of C1 Fund stock (CFND).