Goldman Sachs fully exited its $154 million XRP (XRP) ETF position and walked away from its Solana (SOL) holdings in the first quarter, regulatory data shows.
Goldman Sachs Empties Altcoin ETFs In Q1 Filing
The Wall Street bank disclosed the moves in its Form 13F filing, a quarterly snapshot that institutional managers above $100 million in assets must submit to the U.S. Securities and Exchange Commission.
The bank cleared every share across Bitwise, Franklin Templeton, Grayscale, and 21Shares XRP funds, alongside its full Solana book.
Its Solana exposure had reached roughly $108 million across products from Bitwise, Fidelity, Grayscale, VanEck, Franklin and 21Shares before the wipe.
Goldman also trimmed its Ethereum (ETH) ETF position by about 70%, leaving close to $114 million on the books, while keeping more than $700 million parked in spot Bitcoin (BTC) ETFs. The bank separately disclosed a new stake in Hyperliquid Strategies, worth roughly $3.33 million.
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Analysts Read The Tactical Pullback
Crypto analyst Merlijn framed the rebalance as a conviction statement that separated the winners from the losers across the bank's digital asset book.
Bloomberg Intelligence had already flagged Goldman's late-2025 XRP build-up as trading-desk facilitation rather than directional conviction.
The Q1 exit appears to confirm that read.
Broader ETF demand has held up despite the pullback. XRP ETFs pulled in a 2026 high of about $84 million in May, while Solana products gathered roughly $103 million over the same stretch.
XRP And Solana Performance In Recent Weeks
The Q1 exit came as both tokens slid through a sharp drawdown. XRP is down more than 26% year to date and Solana has lost over 30%, with Bitcoin and Ether off 10% and 28%, respectively.
Goldman's overall crypto book is now roughly seven-eighths Bitcoin, a split observers have read as a benchmark consolidation rather than a retreat from digital assets. Bloomberg data also showed only 16% of XRP ETF assets sat with 13F filers at the end of last year, meaning retail capital still carries most of the load.
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