Solana news: Goldman Sachs Exits XRP and Solana ETFs, Reduces Ethereum Holdings
Goldman Sachs Alters Crypto ETF Strategy
Goldman Sachs has made significant changes to its cryptocurrency investment strategy in the first quarter of 2026. According to its latest 13F filing with the US Securities and Exchange Commission (SEC), the bank has fully exited its positions in both XRP and Solana (SOL) spot ETFs. Additionally, Goldman Sachs reduced its exposure to Ethereum (ETH) ETFs by approximately 70%.
Details of ETF Position Changes
Earlier filings indicated that Goldman Sachs held nearly $154 million in XRP ETFs across Bitwise, Franklin Templeton, Grayscale, and 21Shares, as well as a smaller Solana position in Bitwise and Grayscale products. As of the end of March 2026, both XRP and Solana ETF holdings have been reduced to zero.
The bank's remaining exposure to the iShares Ethereum Trust (ETHA) is now about $114 million, significantly lower than the previous quarter. Bitcoin ETF holdings remain substantial, with approximately $690 million in BlackRock’s iShares Bitcoin Trust (IBIT) and $25 million in Fidelity Wise Origin Bitcoin Fund (FBTC), though both saw reductions of around 10%.
Shift Towards Infrastructure Investments
Beyond ETFs, Goldman Sachs has increased its investments in crypto-linked equities, including Circle, Galaxy Digital, and Coinbase. The bank has also reduced its positions in mining and treasury-related companies such as MicroStrategy, IREN, Bit Digital, and Riot Platforms. This suggests a strategic move away from direct token exposure towards infrastructure and service providers within the cryptocurrency sector.
Broader Institutional Trends
Goldman Sachs is not alone in adjusting its crypto exposure. Other major institutions, such as Harvard University’s endowment and trading firm Jane Street, have also reduced their holdings in Bitcoin and Ethereum ETFs. Conversely, some entities, including Abu Dhabi’s Mubadala and Dartmouth’s endowment, have increased or initiated positions in certain crypto funds.
These shifts reflect a broader trend among institutional investors, with many reducing altcoin ETF exposure amid significant market drawdowns. XRP and Solana, for example, have both declined by over 40% year-on-year.
Looking Ahead
Quarterly 13F filings provide a snapshot of institutional holdings and may include both market-making and client-driven positions. The upcoming Q2 disclosures, expected in August, will offer further insight into whether this rotation away from altcoin funds continues or if institutional interest in these products returns.
