Goldman Sachs, the prominent American investment bank, has made a decisive shift in its cryptocurrency holdings in the first quarter of 2026, pulling entirely out of exchange-traded funds (ETFs) linked to XRP. According to the bank’s recent 13F filing with the US Securities and Exchange Commission (SEC), Goldman Sachs held no position in any ETF associated with XRP during this period.
Broad shakeup in ETF portfolio
A major overhaul took place not only with XRP but also with Solana. By March 2026, Goldman Sachs had divested from all Solana-related ETFs as well, including the Grayscale Solana Trust ETF, Bitwise Solana Staking ETF, and Fidelity Solana Fund. This marks a complete exit from funds that had been key portfolio components in the previous quarters.
In late 2025, XRP and Solana ETFs were still relatively new to the market, having launched towards the end of that year alongside an expansion of crypto-based funds available to investors beyond Bitcoin and Ethereum. Trading of the first Solana ETFs began in October 2025, while spot XRP ETFs were first listed in mid-November.
13F reports are closely scrutinized by investors to measure institutional interest in digital assets. As Goldman Sachs moved away from XRP and Solana products this quarter, overall institutional demand for other digital asset ETFs largely persisted.
Strong stance in Bitcoin and Ether ETFs
Despite its full withdrawal from XRP and Solana ETFs, Goldman Sachs maintained hefty positions in Bitcoin and Ether-based ETFs. The bank reported nearly $690 million in BlackRock’s iShares Bitcoin Trust ETF (IBIT) and $25 million in Fidelity’s Wise Origin Bitcoin Fund (FBTC). Although these figures reflect a reduction of roughly 10% over the quarter, they underscore Bitcoin’s ongoing top status in Goldman’s crypto investment strategy.
In contrast, the bank cut back its stake in Ethereum-focused ETFs significantly. Its holdings in the iShares Ethereum Trust (ETHA) dropped by approximately 70%, leaving Goldman Sachs with 7.2 million shares valued at $114 million.
Moves in crypto equities and other assets
Meanwhile, Goldman Sachs took a divergent approach to shares of companies active in the cryptocurrency sector. The most notable increases were in Circle Internet Group, where holdings surged by 249%, and Galaxy Digital, which saw a 205% rise. Positions also grew in Coinbase Global, Robinhood Markets, and PayPal Holdings over the same quarter.
Conversely, the bank scaled back in major mining and infrastructure firms such as BitMine Immersion Technologies, Bit Digital, and Riot Platforms. Reductions were also seen in MicroStrategy and IREN shares, reflecting a broader rebalancing across its cryptocurrency-related holdings.
This pivotal shift comes after Goldman Sachs reported a 154 million dollar position in XRP ETFs at the end of 2025, making it the largest institutional holder of such funds at that time. That prior report included investments in XRP ETFs managed by Bitwise, Franklin Templeton, Grayscale, and 21Shares.
The overall reshaping of Goldman Sachs’ crypto ETF portfolio appears to reflect a streamlined focus on the leading digital assets, especially Bitcoin, while dialing down exposure to newer entrants like XRP and Solana.
Institutional investors often monitor Goldman Sachs’ portfolio moves as a bellwether for wider trends in digital asset adoption and the evolving landscape of cryptocurrency-backed investment products.
