Goldman Sachs exits XRP and Solana ETFs, raises Bitcoin call options stake

Goldman Sachs exits XRP and Solana ETFs, focusing on increasing its Bitcoin investments, signaling a major shift in its cryptocurrency strategy.

In a striking move, Goldman Sachs has officially exited its investments in exchange-traded funds (ETFs) tied to XRP and Solana, while simultaneously ramping up its stake in Bitcoin. This shift, revealed in a recent filing, underlines a significant strategy change in the bank's approach to cryptocurrency investments.

Why Did Goldman Sachs Exit XRP and Solana?

Goldman Sachs completely liquidated its holdings in both XRP and Solana ETFs during the first quarter of 2026. Previously, in February, the bank had reported a total of approximately $260 million in combined holdings across these cryptos in Q4 2025. This marked its first reported wave into crypto assets beyond Bitcoin and Ethereum.

XRP alone accounted for $152 million of that exposure, split among various issuers, including $35.9 million in 21Shares, $39.8 million in Bitwise, $38.4 million in Franklin, and $37.9 million in Grayscale XRP ETFs. Meanwhile, Solana holdings stood at $108 million, with considerable focus on Bitwise's Solana staking ETF, amounting to about $45 million, along with a $35.7 million investment in Grayscale's Solana Trust.

What Does This Shift Mean for Bitcoin?

As Goldman's interest in XRP and Solana wanes, its commitment to Bitcoin grows. The bank recently increased its exposure to Bitcoin via BlackRock's iShares Bitcoin Trust (IBIT), now holding about 41 million shares. Additionally, it significantly boosted its call options on the fund, doubling them to 6.8 million shares. At the same time, Goldman holds 16.3 million puts, indicating a strategy that remains cautiously bullish on Bitcoin's future.

How Is This Part of a Larger Trend?

This movement towards Bitcoin isn't happening in isolation. Goldman Sachs' decision aligns with a larger trend among institutional investors, who increasingly view Bitcoin as the go-to digital asset for portfolio diversification. By investing in Bitcoin ETFs following their approval in January 2024, financial institutions benefit from the liquidity these products offer, enabling them to gain exposure without directly holding digital assets.

What’s Happening to Ethereum Investments?

Interestingly, the bank has also adjusted its position on Ethereum ETFs. Goldman sharply reduced its ETHA holdings by roughly 68%, dropping its shares from 43.6 million to 13.7 million. However, it did initiate a new investment with 2.5 million shares in BlackRock's iShares Stake Ethereum Trust, indicating a nuanced strategy regarding Ethereum.

Who Else Is Goldman Sachs Investing In?

In conjunction with its Bitcoin strategy, Goldman Sachs has also taken steps to increase its stakes in other blockchain-focused companies. The firm has more than tripled its position in Circle shares, with holdings jumping from 417,174 to nearly 1.5 million. Additionally, it has bolstered investments in Galaxy Digital and Coinbase, marking a definitive tilt toward Bitcoin and regulated blockchain entities.

Key Takeaways

  • Goldman Sachs has liquidated its investments in XRP and Solana ETFs, collectively worth approximately $260 million.
  • The bank significantly increased its stake in Bitcoin through BlackRock's IBIT, now holding around 41 million shares.
  • Goldman more than doubled its Bitcoin call options to 6.8 million shares, supporting a cautiously bullish outlook.
  • In contrast, it sharply reduced its Ethereum ETF holdings by 68% while initiating a new stake in BlackRock's iShares Stake Ethereum Trust.
  • Goldman is pivoting towards investing in regulated blockchain companies, tripling its position in Circle.

This strategic pivot speaks volumes about the evolving landscape of cryptocurrency as financial institutions reassess their portfolios. Traders looking for competitive rates can still capitalize on these trends by checking out exchanges like Binance, Bybit, and others, where they can find unique opportunities to enter the market. For exclusive bonuses, don't forget to visit our Binance referral page.