Goldman Sachs Exits XRP and Solana ETFs, Maintains $700M Bitcoin Exposure

• Goldman Sachs sold all XRP and Solana ETF positions while keeping roughly $700 million in Bitcoin ETFs.
• The bank reduced Ethereum ETF exposure by nearly 70% but added a new staked Ethereum position.
• Goldman increased investments in Circle, Coinbase, and Galaxy Digital despite broader crypto fund outflows.

Goldman Sachs changed its crypto ETF portfolio during the first quarter of 2026, fully exiting XRP and Solana funds while reducing Ethereum ETF exposure by nearly 70%. According to the bank’s latest 13F filing, Goldman kept roughly $700 million in Bitcoin ETF holdings as crypto investment products recorded over $1 billion in weekly outflows across the broader market.

Goldman Sachs no longer reported holdings tied to XRP or Solana ETFs after previously building major positions during late 2025. In the prior quarter, the bank disclosed nearly $154 million across XRP products from Bitwise, Franklin Templeton, Grayscale, and 21Shares.

The filing also showed Goldman Sachs previously held about $108 million in Solana-related investment products. Those positions included exposure through Bitwise, Grayscale, Fidelity, VanEck, and Franklin Templeton offerings.

However, the bank maintained large Bitcoin ETF exposure despite reducing some positions. Goldman held roughly $690 million in BlackRock’s IBIT and about $25 million in Fidelity’s FBTC fund.

At the same time, the filing showed Goldman increased IBIT exposure to nearly 41 million shares. The bank also expanded IBIT call options while maintaining put positions tied to the fund.

While Bitcoin positions remained significant, Goldman reduced Ethereum ETF exposure during the quarter. The bank cut its BlackRock ETHA position from 43.6 million shares to roughly 13.7 million shares.

Still, Goldman initiated a new 2.5 million-share position in BlackRock’s iShares Stake Ethereum Trust. The filing did not disclose reasons behind the portfolio adjustments.

Meanwhile, CoinShares reported digital asset investment products recorded $1.07 billion in outflows last week. According to the report, Bitcoin products saw $982 million in outflows, while Ethereum funds lost $249 million.

However, XRP and Solana products continued attracting capital despite Goldman’s exit. CoinShares data showed XRP products recorded $67.6 million in inflows, while Solana products added $55.1 million.

Alongside ETF changes, Goldman expanded holdings in several crypto-linked companies during the quarter. The bank increased positions in Circle, Galaxy Digital, and Coinbase shares.

Notably, Goldman more than tripled its Circle stake from about 417,000 shares to nearly 1.5 million shares. However, the bank reduced holdings tied to Strategy, IREN, Bit Digital, and Riot.

The latest filing also reflected broader institutional positioning around regulated crypto products. Bitcoin ETFs continued holding deeper liquidity across spot, futures, and options markets than most alternative crypto investment products.