Kinetics Internet Portfolio, a mutual fund with $248 million in assets under management, disclosed in an NPORT-P quarterly filing with the U.S. Securities and Exchange Commission that it directly holds Class A common shares of Ripple Labs rather than XRP tokens. The stake was valued at about $246,000 as of June 30 and represented roughly 0.1% of the fund’s net assets. Because Ripple remains a private company, the fund bought the pre-IPO shares through an over-the-counter platform available to qualified investors. The disclosure came as Ripple was carrying out a $750 million share buyback at a reported $50 billion valuation. Ripple CEO Brad Garlinghouse also recently said at the 2026 Wyoming Blockchain Symposium that the company now holds a more neutral view on going public, a shift from its earlier stance that had ruled out an IPO entirely. At the same time, XRP rose 10.6% over the past 24 hours to trade near $1.11.