Kinetics Internet Portfolio, a mutual fund managing $248 million in assets, disclosed in an SEC filing a stake in Ripple Labs, the company behind XRP, rather than in the token itself. This stake is worth approximately $246,000, representing about 0.1% of the fund’s net assets. Ripple, which remains a private company, was valued at $50 billion during a recent $750 million tender offer. CEO Brad Garlinghouse signaled a more flexible stance toward a potential public listing, departing from previous statements by President Monica Long who had ruled out an IPO. XRP itself rose 10.6% over the past 24 hours, trading near $1.11.
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