Goldman Sachs Reevaluates its Crypto Positions

The Wall Street giant, Goldman Sachs, has radically changed its crypto investment strategy. According to the latest 13F report filed with the SEC for Q1 2026, the investment bank has completely liquidated its positions in the spot XRP and Solana (SOL) ETFs. Meanwhile, its $700 million in Bitcoin ETFs remain intact (or almost).

A complete withdrawal from altcoin ETFs

At the end of 2024, Goldman Sachs was among the largest institutional holders of XRP ETFs. By late December 2025, the bank reported nearly $154 million spread across Bitwise, Franklin Templeton, Grayscale, and 21Shares funds.

In Q1 2026: zero dollars, zero position, and zero exposure to this crypto asset.

The same scenario for Solana! Holdings in GSOL (Grayscale), BSOL (Bitwise), and FSOL (Fidelity) funds have all disappeared from view. These altcoin ETFs were only launched at the end of 2025, just months before this dramatic exit.

For crypto experts, this is not a trivial signal. Goldman was the largest institutional holder of these XRP products at the end of last year.

Goldman bets on infrastructure, not speculative crypto assets

According to the 13F report, Goldman also reduced its position in the iShares Ethereum Trust (ETHA) ETF by nearly 70%. It thus retains about 7.2 million shares valued around $114 million.

The hierarchy is now clear:

• Bitcoin: slightly reduced (–10%), but still over $715 million
• Ethereum: cut by 70%
• XRP and Solana: liquidated to zero

While the bank exited altcoin ETFs, it quietly strengthened other crypto bets. Its exposure to Circle (issuer of USDC) soared by +249%.

The reading is therefore clear: Goldman is not fleeing crypto. It is redirecting its strategies towards regulated infrastructures rather than altcoins still in their maturation phase. If other major institutions follow the same path, the impacts on altcoin ETF liquidity could be significant. Story to follow!