Goldman Sachs substantially reduced its exposure to XRP- and Solana-linked exchange-traded funds (ETFs) in the first quarter of 2026, according to its 13F filing with the U.S. Securities and Exchange Commission. The investment bank, previously the largest institutional holder of XRP ETFs, reported no holdings in these altcoin funds for the first quarter.
In late 2025, new XRP and Solana ETFs launched, marking a wave of cryptocurrency funds beyond Bitcoin and Ether entering the market. Goldman Sachs had exposed nearly $154 million to XRP ETFs at the end of 2025 through products from Bitwise, Grayscale, Franklin Templeton, and 21Shares. Similarly, it held various Solana-related ETFs such as the Grayscale Solana Trust and Bitwise Solana Staking Fund. However, the bank exited these positions as interest in these altcoin ETFs waned within its portfolio.
Despite withdrawing from XRP and Solana ETFs, Goldman Sachs maintained significant exposure to Bitcoin and Ether funds. It held approximately $690 million in BlackRock’s iShares Bitcoin Trust ETF and about $25 million in Fidelity’s Wise Origin Bitcoin Fund, trimming both holdings by roughly 10%. Its Ether ETF stake saw a more dramatic reduction of around 70%, leaving a position valued near $114 million.
Alongside ETF adjustments, Goldman Sachs reshaped its crypto equities portfolio during the quarter. It boosted investments in crypto services and platforms, seeing notable gains in Circle Internet Group, which surged by 249%, and Galaxy Digital, which rose over 200%. The bank also increased holdings in Coinbase Global, Robinhood Markets, and PayPal.
Conversely, Goldman Sachs scaled back stakes in key cryptocurrency miners and infrastructure companies, including BitMine Immersion Technologies, Bit Digital, and Riot Platforms. It further reduced positions in Strategy and IREN, indicating a selective rebalancing strategy towards assets with greater growth potential or strategic fit.