Goldman Sachs Exits XRP, Solana ETFs; Cuts Ethereum ETF 70%

Goldman Sachs fully exited its spot XRP and Solana ETF positions in the first quarter of 2026, according to its Q1 2026 13F filing with the Securities and Exchange Commission covering holdings as of March 31. The filing also shows the bank trimmed its iShares Ethereum Trust (ETHA) exposure by about 70% while retaining most of its Bitcoin ETF positions.

The filing showed prior XRP ETF holdings totaled roughly $153.8 million spread across Bitwise, Franklin Templeton, Grayscale and 21Shares; those positions were reported at zero at quarter end. Solana exposure, previously concentrated in Bitwise’s Solana staking ETF and the Grayscale Solana Trust, was also reported at zero.

Goldman’s remaining ETHA holdings were recorded near $114 million, down about 70% from the prior quarter. The bank reported about $690 million in BlackRock’s iShares Bitcoin Trust (IBIT) and roughly $25 million in Fidelity’s Wise Origin Bitcoin Fund (FBTC), each trimmed by close to 10% from the prior filing.

The 13F showed larger stakes in crypto-related equities, with increased positions in Circle, Galaxy Digital and Coinbase. It reduced holdings in mining and treasury-heavy firms including MicroStrategy, IREN, Bit Digital and Riot Platforms.

The Q1 disclosure contrasts with Goldman’s late-2025 filings, when the bank appeared among the largest institutional holders of spot XRP and Solana ETF products. The Q1 filing provides an end-of-quarter snapshot of positions as of March 31.

Other institutional filings for the same period showed varied activity. Harvard University’s endowment cut its IBIT holding by about 43% to roughly $117 million and closed an $86.8 million Ethereum ETF position it had added the prior quarter. Trading firm Jane Street reduced its IBIT stake by about 71% and trimmed FBTC by roughly 60% while increasing exposure to Ether ETFs. Emory University exited a small IBIT position and moved into the Grayscale Bitcoin Mini Trust.

Some institutions increased or added positions. Abu Dhabi’s Mubadala raised its IBIT stake by about 16% to roughly $566 million. Dartmouth opened a small position in the Bitwise Solana Staking ETF, and Brown University maintained its IBIT exposure.

13F filings report end-of-quarter holdings and may include market-making inventory or client-driven positions rather than only directional bets. XRP and Solana were both down more than 40% year over year at the quarter end.

Quarterly 13F disclosures for Q2 are due in August and will show whether institutions continued to reduce altcoin ETF positions or adjusted allocations.