Goldman cuts crypto ETF bets as ETH holdings fall 70%

Goldman Sachs sharply scaled back its holdings from altcoin ETFs during the first quarter of 2026. It fully exited both XRP and Solana ETF positions. However, the investment giant has also slashed its Ethereum ETF holdings by around 70%.

Fresh SEC 13F filings show that the bank no longer has any holdings tied to XRP ETFs during Q1. This marks a major reversal from its position in Q4 2025. Goldman had disclosed nearly $154 million in XRP-linked ETFs. The list held products from Bitwise, Franklin Templeton, Grayscale, and 21Shares. This move comes in when XRP ETFs recently recorded their strongest week of inflows of 2026.

XRP ETF inflows climb while Goldman exits

In the case of SOL ETFs, Goldman held positions in Grayscale Solana Trust ETF (GSOL), Bitwise Solana Staking ETF (BSOL), and Fidelity Solana Fund (FSOL). Both Solana and XRP ETFs began trading in late 2025 as issuers rushed to expand beyond Bitcoin and Ether products. 

According to SoSoValue data, XRP ETFs added around $60.5 million during the May 11-15 trading week. Its Cumulative inflows across have now climbed to around $1.39 billion. However, its total net assets stand at $1.18 billion.

Bitwise reportedly led the weekly inflow rankings. Its XRP ETF pulled in around $25.67 million during the week. Its cumulative inflows into the product are now reaching close to $460 million. Franklin Templeton followed closely behind. Its XRPZ ETF is adding around $21 million during the same period.

XRP price has dipped by almost 6% in the last 7 days. XRP is trading at $1.38 at the press time. Solana saw a massive sell-off as its price slumped by around 12% in the same period. SOL is trading at $84.46 at the press time.

Bitcoin stays, Ethereum shrinks

Goldman might have abandoned XRP and Solana ETF exposure entirely but it still maintains sizable positions in Bitcoin-related products.

The filing showed Goldman still holds around $690 million in BlackRock’s iShares Bitcoin Trust (IBIT). It carried $25 million in Fidelity’s FBTC. However, both positions were trimmed by roughly 10% during the quarter.

The bank also dramatically reduced its Ether ETF allocation. It moved ahead to cut its position in BlackRock’s iShares Ethereum Trust (ETHA) by about 70%. This leaves the bank with around 7.2 million shares (approx worth $114 million).

Bitcoin price has dropped by 5.3% over the last 7 days. BTC is trading at $76,707 at the press time. Ether price saw a sell-off of almost 9% in the same period. ETH trades below the $2,200 mark. The filing suggests Goldman is not fully retreating from crypto exposure altogether. Instead, the bank appears to be repositioning toward a more Bitcoin-heavy allocation while reducing exposure to altcoin ETF products.

Outside ETFs, the bank actually increased exposure to several crypto-linked equities. Its position in Circle surged roughly 249% during the quarter. However, it also holdings in Galaxy Digital jumped around 205%. The bank also added to positions in Coinbase, Robinhood, and PayPal.

Goldman has reportedly reduced exposure to several Bitcoin mining and infrastructure firms. The bank trimmed positions tied to Strategy, IREN, Bit Digital, and Riot Platforms.

The smartest crypto minds already read our newsletter. Want in? Join them.