Ripple Surpasses Kraken as Top Investment Destination

Ripple has emerged as the largest investment destination, surpassing the digital asset exchange Kraken, in the C1 fund listed on the New York Stock Exchange (NYSE). Institutional investors are increasingly purchasing unlisted Ripple shares and investing in XRP spot exchange-traded funds (ETFs). In the second quarter of 2026, Ripple Labs accounted for 17.5% of the C1 fund's portfolio, surpassing Kraken's parent company, Payward. The C1 fund is a closed-end fund traded under the ticker 'CFND' and is characterized by its investments in unlisted digital asset companies. Ripple's share buyback has positively impacted the fund's performance, resulting in a 150% return over approximately four months. The C1 fund has invested $33.07 million, which is 77.5% of its total capital, in 11 unlisted digital asset companies, and recently included the prediction market platform Polymarket in its portfolio. Institutional investors are showing interest not only in Ripple shares but also in the XRP ETF, with Goldman Sachs investing $86.5 million in five XRP ETFs. The total assets under management for the U.S. XRP spot ETF have increased to $1.5 billion. Ripple has completed a private bond issuance worth $275 million, receiving an investment-grade rating of 'BBB' for the bonds.

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