Wall Street giant Goldman Sachs has just radically changed its crypto investment strategy. According to the latest 13F report filed with the SEC for the first quarter of 2026, the investment bank has fully liquidated its positions in the XRP and Solana (SOL) spot ETFs. And meanwhile, his $700 million in Bitcoin ETFs remains intact (or almost).
In brief
- Goldman Sachs sold 100% of its XRP and Solana ETFs in Q1 2026, after holding $154 million worth of them at the end of 2025.
- At the same time, the bank is strengthening its exposure to bitcoin.
- The institutional crypto market becomes more selective in 2026.
A total withdrawal of altcoin ETFs
At the end of 2024, Goldman Sachs was among the largest institutional holders of XRP ETF. At the end of December 2025, the bank declared nearly $154 million spread across Bitwise, Franklin Templeton, Grayscale and 21Shares funds.
In Q1 2026: zero dollars, zero positions and zero exposure to this crypto asset.
Same scenario for Solana! Holdings in the GSOL (Grayscale), BSOL (Bitwise) and FSOL (Fidelity) funds have all fallen off the radar. These Altcoin ETFs had however only been launched at the end of 2025, only a few months before this sensational release.
For crypto experts, this is not a trivial signal. Goldman was the first institutional holder of these XRP products at the end of last year.
Goldman bets on infrastructure, not speculative crypto assets
According to the 13F reportGoldman also reduced its position in the iShares Ethereum Trust ETF (ETHA) by almost 70%. It thus retains approximately 7.2 million shares valued at around $114 million.
The hierarchy is now clear:
- Bitcoin: slightly reduced (–10%), but still over $715 million
- Ethereum: cut by 70%
- XRP and Solana: sold at zero
While the bank was exiting altcoin ETFs, it was quietly strengthening other crypto betting. Its exposure to Circle (USDC issuer) jumped +249%.
The reading is therefore clear: Goldman is not fleeing crypto. It is reorienting its strategies towards regulated infrastructures rather than towards altcoins still in the maturation phase. If other large institutions follow the same path, the repercussions on the liquidity of altcoin ETFs could be significant. File to follow!
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