Goldman Sachs Dumps XRP and Solana ETFs While Bitcoin Holdings Climb to $700 Million

Goldman Sachs quietly walked away from its XRP and Solana ETF positions during the first quarter of 2026. Big move. The bank also trimmed Ethereum-related fund exposure — but kept a firm grip on bitcoin, where its ETF holdings now sit at $700 million.

That’s the headline number. Seven hundred million dollars in bitcoin ETFs, which pretty much tells you where Goldman’s head is at right now. The bank didn’t issue a public statement breaking down its reasoning in detail, so the picture we’re working with comes from what’s visible in its holdings disclosures. No spokesperson quoted. No roadshow. Just the numbers, and they’re loud enough on their own.

The XRP and Solana exits aren’t small. Both tokens had real institutional momentum heading into 2025, with ETF products drawing attention from banks and asset managers who’d been sitting on the sidelines for years. Goldman getting in was seen as a signal. Goldman getting out — at least partially — is also a signal. Probably a more sobering one for holders of those assets.

Bitcoin Stays the Core Bet

Goldman’s $700 million in bitcoin ETF holdings is the anchor of its digital asset strategy right now. Bitcoin’s the one asset the bank seems comfortable holding at scale, which fits a pattern you’re seeing across major financial institutions. When things get murky in crypto — regulatory pressure, market swings, liquidity concerns — the big money tends to consolidate around bitcoin first and ask questions later.

Solana and XRP had their moments. Solana especially built a strong narrative around speed and developer activity. XRP carried years of legal drama with the SEC before getting some regulatory breathing room. But neither has the same institutional gravity as bitcoin, and Goldman’s portfolio shift kind of makes that gap visible.

It’s worth noting the bank didn’t exit Ethereum entirely — it reduced exposure to Ethereum-related funds, which is a different thing. Ethereum still has its own institutional base, particularly around smart contract infrastructure and the broader DeFi ecosystem. Goldman seems to be trimming around the edges there rather than walking away clean.

Crypto Equities Fill the Gap

Here’s the interesting wrinkle. Goldman didn’t just cut crypto exposure and call it a day. The bank increased its stakes in crypto-linked equities at the same time. So it’s not a retreat from the sector — it’s a repositioning within it.

More context: $XRP ETFs Pull $60 Million in a Week While the Token Cant Hold $1.50

Crypto-linked equities — think companies that mine bitcoin, run exchanges, or build blockchain infrastructure — give institutional investors a way to stay in the game without holding tokens directly. Less volatility on the balance sheet. Easier to explain to compliance. Probably easier to exit too, if things go sideways. Goldman’s move into those equities while cutting ETF positions in XRP and Solana suggests the bank wants blockchain exposure, just not the kind that comes with the price swings of mid-cap tokens.

And that’s a pretty rational call, honestly. Institutional money has always been more comfortable with equities than with tokens. The crypto-native crowd finds that frustrating sometimes, but it’s just how large balance sheets tend to work.

What the Portfolio Shift Actually Means

Goldman’s Q1 2026 moves are basically a case study in how big banks are learning to navigate digital assets. They came in broad — touching bitcoin, Ethereum, XRP, Solana — and now they’re pulling back toward the core. Bitcoin at $700 million. Crypto equities up. Everything else, trimmed or gone.

No details were provided on the specific dollar amounts behind the XRP and Solana exits. Unclear how large those positions were before the cuts. The bank hasn’t disclosed future plans either, so whether this is a temporary reallocation or a longer-term strategic decision isn’t something we can say with confidence yet.

Read also: Intesa Sanpaolo Doubles Crypto to $235M, Dumps $SOL for $ETH and $XRP

What’s clear is the direction. Bitcoin gets the big number. Equities get a boost. The smaller tokens get the door.

Stablecoin adoption and broader crypto integration into traditional finance have been accelerating across the industry, which makes Goldman’s conservative tilt a bit counterintuitive on the surface. But big institutions move differently from retail. They’re not chasing momentum — they’re managing risk across portfolios that have to answer to regulators, boards, and clients who didn’t grow up on crypto Twitter.

Goldman’s bitcoin ETF holdings stood at $700 million at the end of Q1 2026.

Hub: XRP price, news, and analysis