New York-Traded Fund Reveals Ripple as Top Holding, Overtaking Kraken

The C1 Fund, a New York-traded vehicle focused on private digital-asset investments, has repositioned Ripple Labs as its largest holding, accounting for 17.49% of net assets as of late June. The shift displaced Payward, Kraken's parent company, which now sits at 16.92% of the fund's portfolio. The fund had allocated $41.3 million across eleven private companies by that reporting date, with the change in top holdings reflecting broader movement in the pre-IPO crypto investment space.

The reallocation underscores ongoing appetite among traditional finance vehicles for exposure to major crypto infrastructure players ahead of potential public listings. Ripple's ascendance to the top position signals confidence in the company despite regulatory headwinds it has faced.

• Ripple Labs displaced Payward as C1 Fund's largest single holding, representing a shift in the fund's private digital-asset allocation strategy.
• The fund maintains diversified exposure across eleven companies with $41.3 million deployed as of late June.
• The move reflects market positioning around pre-IPO opportunities in crypto infrastructure, though neither company has announced a public listing timeline.