USDGoldman Sachs Exits XRP, Solana ETF Positions
Bitcoin ETF Holdings Remain Above $700 Million
TL;DR
- Goldman Sachs ended Q1 2026 with no reported XRP or Solana ETF positions.
- The bank kept more than $700 million in Bitcoin ETF exposure.
- Its Q1 2026 Form 13F-HR was filed on May 15, 2026.
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Goldman Sachs fully exited its XRP-linked and Solana-linked ETF positions during Q1 2026 while keeping Bitcoin ETFs as its largest disclosed crypto ETF exposure, according to its latest confirmed Form 13F-HR filing for the period ending March 31, 2026.
The filing, submitted on May 15, 2026, reflects quarter-end holdings rather than real-time trading activity. Goldman Sachs had previously held nearly $154 million in XRP-related ETFs tied to Bitwise, Franklin Templeton, Grayscale, and 21Shares at the end of 2025, but reported no XRP-linked ETF positions by the end of the following quarter.
Goldman Sachs also removed all reported Solana-linked ETF exposure by the end of Q1 2026. The earlier Solana-linked positions included exposure to the Grayscale Solana Trust ETF, the Bitwise Solana Staking ETF, and the Fidelity Solana Fund.
Bitcoin Remained the Core Crypto ETF Position
Goldman Sachs did not abandon crypto ETF exposure. The bank retained more than $700 million in Bitcoin ETFs, including about $690 million in BlackRock’s iShares Bitcoin Trust ETF and roughly $25 million in the Fidelity Wise Origin Bitcoin Fund.
Goldman Sachs reduced both its BlackRock IBIT and Fidelity FBTC Bitcoin ETF positions by roughly 10% during the quarter. Bitcoin still remained the bank’s dominant disclosed crypto ETF allocation after the XRP and Solana exits.
The bank also sharply reduced its Ether ETF exposure, cutting its iShares Ethereum Trust position by about 70%. That left roughly 7.2 million shares valued at around $114 million.
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Crypto Equity Exposure Shifted
Goldman Sachs’ Q1 rotation also included changes outside ETFs. The bank increased exposure to crypto-related equities including Circle, Coinbase, Galaxy Digital, Robinhood, and PayPal.
The largest reported crypto-equity increases were a roughly 249% jump in Circle Internet Group exposure and a roughly 205% increase in Galaxy Digital exposure. Goldman Sachs also reduced positions in several mining and infrastructure-linked names, including BitMine Immersion Technologies, Bit Digital, Riot Platforms, Strategy, and IREN.
XRP-linked ETFs had launched in mid-November 2025, while Solana ETFs began trading in late October 2025 with additional products rolling out in November. Goldman Sachs had been described as the largest institutional holder of XRP-related ETFs as of Dec. 31, 2025.
The filing did not state Goldman Sachs’ reason for exiting XRP and Solana ETF positions. The confirmed change is the portfolio adjustment itself: no reported XRP or Solana ETF positions, reduced Ether ETF exposure, trimmed Bitcoin ETF holdings, and continued major Bitcoin ETF exposure above $700 million.
FAQ
Did Goldman Sachs exit Bitcoin ETFs?
No. It retained more than $700 million in Bitcoin ETF exposure.
Did Goldman Sachs disclose why it exited XRP and Solana ETFs?
No. The filing did not state a reason.
When was the latest filing submitted?
The Form 13F-HR was filed on May 15, 2026.
What period did the filing cover?
It covered the reporting period ending March 31, 2026.
This article has been refined and enhanced by ChatGPT.
