Goldman Sachs crypto ETF holdings rotation represented by institutional portfolio dashboards for Bitcoin, Ethereum, XRP, and Solana.

Goldman Sachs Dumped Its XRP and Solana ETF Holdings in Q1

By Isaac • May 18, 2026 8:31 am • Comments

Goldman Sachs walked away from its XRP and Solana ETF positions entirely during the first quarter of 2026, according to a 13F filing published by the SEC on May 15.

The bank had reported nearly $154 million in XRP-related ETF exposure in its Q4 2025 filing. That number dropped to zero.

Solana-linked ETF holdings also disappeared from the latest report.

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Meanwhile, Goldman kept a substantial Bitcoin ETF footprint and maintained a reduced Ether ETF allocation, signaling that the firm still sees a clear institutional lane for crypto’s two largest assets.

Cointelegraph reported the details of the filing:

According to Cointelegraph: Goldman Sachs sharply reduced its crypto ETF exposure in the first quarter of 2026. No XRP-linked ETFs appeared in Goldman’s Q1 Form 13F filing, after the bank had disclosed nearly $154 million of XRP-related ETF exposure in Q4 2025.

Solana-linked ETF holdings disappeared from the latest quarter as well. Bitcoin exposure stayed much larger: Goldman continued to hold roughly $690 million of BlackRock’s iShares Bitcoin Trust ETF and about $25 million of Fidelity’s Wise Origin Bitcoin Fund, even after trimming both positions by about 10%.

Ether exposure also moved lower, with Goldman cutting its iShares Ethereum Trust position by about 70% and leaving roughly 7.2 million shares valued around $114 million. The useful takeaway for PCN readers is the split between durable Bitcoin ETF exposure and weaker reported demand for newer XRP and Solana ETF products.

The filing is a delayed institutional snapshot, so it should be read as quarterly disclosure rather than a live trading signal. That distinction matters because 13F disclosures arrive after quarter-end and show reported holdings, not live intent.

The pattern still gives readers a clean view of how one major Wall Street institution treated Bitcoin, Ether, XRP, and Solana ETF exposure during the same reporting period.

On the Bitcoin side, Goldman still held roughly $690 million in BlackRock’s iShares Bitcoin Trust ETF and about $25 million in Fidelity’s Wise Origin Bitcoin Fund.

Both positions were trimmed by about 10% from the prior quarter, but the combined exposure still tops $700 million. That is a serious allocation by any institutional standard.

Ether took the steepest percentage cut. Goldman slashed its iShares Ethereum Trust position by approximately 70%, leaving around 7.2 million shares valued at roughly $114 million.

The SEC filing covers the period ending March 31, 2026. 13F reports are backward-looking snapshots of institutional equity holdings, filed up to 45 days after quarter-end.

Goldman’s current positions may already look different.

That caveat aside, the rotation is telling. XRP sits at number five by market cap and Solana at number seven, per CoinMarketCap data from May 18.

Both are large-cap assets with growing retail interest. A top-tier bank choosing to zero out ETF exposure in both during the same quarter is a real data point about where institutional conviction actually sits.

Bitcoin continues to absorb the vast majority of institutional ETF capital. That pattern has held since the spot ETF launches, and Goldman’s Q1 numbers reinforce it.

Ether’s smaller but surviving allocation suggests the bank still sees enough value to stay in, even after a heavy trim. For altcoin ETFs further down the cap table, the message from this filing is harder to spin as positive.

Institutional demand for newer crypto funds has yet to prove itself as durable quarter over quarter.

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