Goldman Sachs Sold Every XRP and Solana ETF It Owned as XRP Price Crashed

Key Takeaways

• Goldman Sachs fully exited its $154M XRP ETF position across Bitwise, Grayscale, Franklin Templeton, and 21Shares in Q1 2026, going to zero
• Goldman also liquidated all Solana ETFs and cut Ethereum by 70% to $114M while keeping $700M in Bitcoin ETFs almost untouched
• Bloomberg says the XRP exit may have been a trading desk reset rather than a directional bet, explaining the clean zero in a single quarter

Goldman Sachs’ brief run with XRP ETFs appears to be over. The bank fully exited its positions in XRP and Solana-linked funds during the first quarter of 2026, according to its latest SEC filing. The move came as the XRP price continued trading below its previous cycle highs. Amidst this, institutions remained far more concentrated in Bitcoin ETFs than in newer altcoin products.

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Why Goldman Sachs Went From $154M in XRP to Zero in a Single Quarter

Goldman Sachs disclosed no XRP ETF holdings in its Q1 2026 13F filing. This came after previously reporting $154 million spread across funds from Bitwise, Grayscale, Franklin Templeton, and 21Shares at the end of 2025.

In addition to this, the bank also exited all of its Solana ETF exposure during the quarter. Ethereum ETF holdings were reduced by around 70% to roughly $114 million. Meanwhile, Bitcoin ETF exposure stayed relatively stable at more than $700 million combined across BlackRock’s IBIT and Fidelity’s FBTC.

Even after a small reduction, Goldman’s Bitcoin ETF holdings remained its biggest crypto-related position by a wide margin. The filing showed about $690 million allocated to BlackRock’s iShares Bitcoin Trust. Another $25 million is tied to Fidelity’s Wise Origin Bitcoin Fund.

The contrast has added to the discussion around how institutions currently view altcoin ETFs compared to Bitcoin products. This continues to attract the largest share of institutional flows.

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XRP ETF Exit May Have Been Tied to Trading Activity

Bloomberg ETF analysts said the XRP ETF positions may not have represented a long-term directional bet on the XRP price. Instead, the exposure may have been linked to trading desk activity or short-term client demand following the launch of spot XRP ETF products in late 2025.

This could explain why the positions disappeared completely within a single quarter instead of being gradually reduced. Meanwhile, XRP’s price saw a major downfall over the past couple of days. At press time, the altcoin was trading at $1.38.

Standard Chartered previously said it still sees longer-term upside for the XRP price. The bank is outlining a possible move toward $4 before any broader push higher. Still, institutional positioning in the latest quarter remained heavily tilted toward Bitcoin ETFs over newer altcoin products.

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