Goldman Sachs Closes Solana & XRP ETF Stake, Dumps 70% ETH ETF Holdings
Highlights
- In Q1 2026, Goldman Sachs sold all of its XRP and Solana ETF holdings.
- The value of Ethereum ETF exposure fell by almost 70% to about $114 million.
- Bitcoin continued to be the biggest crypto allocation for Goldman, having approximately $715 million in total exposure.
Goldman Sachs’ latest disclosure shows that the bank has dramatically changed its crypto investment portfolio. It sold all its holdings in XRP and Solana ETFs, and substantially diminishing its stake in Ethereum.
Goldman Sachs Sells Stake In XRP, SOL ETFs
The Wall Street giant’s first quarter 2026 filing revealed that it held no positions in any ETFs related to Solana or XRP as of March 31. It was a major change from the last three months of 2025. At the time, Goldman was said to have about $154 million in XRP ETF holdings and over $100 million of investments related to Solana.
Those earlier allocations were divided between several issuers, such as Grayscale Investments, Fidelity Investments and Bitwise Asset Management.
Market analysts pointed out that the filing only includes long-term institutional purchases. It doesn’t present an accurate picture of Goldman’s overall investment stance on cryptocurrencies.
Short positions, hedging, client exposures and portfolio adjustments after the end of the quarter are not included in the quarterly 13F disclosures. Still, Goldman Sachs appears to have reduced its exposure to investment products of cryptocurrencies due to volatility in the crypto market.
Reduction In Ethereum & Bitcoin ETF Positions
Goldman also trimmed its investments in the ETF for Ethereum significantly in the quarter. The filing disclosed that the bank sold off nearly 70% of its holdings in BlackRock’s iShares Ethereum ETF, leaving around $114 million in the fund’s ETF exposure.
The sell-off was in sharp contrast to Goldman’s handling of Bitcoin-related products. Moreover, the filing shows that the bank was left with approximately $690 million in BlackRock’s IBIT Bitcoin ETF. Additionally, Goldman had about $25 million in exposure via Fidelity Investments’ Bitcoin fund, FBTC.
Despite the volatility of the crypto sector, Bitcoin’s institutional allocations went into a dip. The bank cut both positions by just 10% since the last quarter. It leaves Bitcoin as the biggest single institutional crypto asset at Goldman Sachs.
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