Goldman Sachs Sells Entire XRP ETF Position in Major Crypto Strategy Shift
Goldman Sachs’ new report for the first quarter of 2026 reveals a major shift in the bank’s crypto strategy.
Summary:
- Goldman sold all XRP ETF positions.
- The bank also exited Solana ETFs.
- The XRP ETF market remained slightly positive.
After recently being the largest institutional holder of the altcoin, Goldman Sachs has completely liquidated its XRP ETF exposure worth $154 million. The sales covered exchange-traded products from Bitwise, Franklin Templeton, Grayscale, and 21Shares.
The bank also fully exited its Solana ETF positions in Grayscale, Bitwise, and Fidelity products. Bitcoin exposure was reduced as well. The position in IBIT was cut to $690 million, while the Fidelity FBTC position was reduced to $25 million. Holdings in the BlackRock iShares Ethereum ETF were reduced by 70%, leaving approximately $114 million.
However, while Goldman is reducing direct exposure to crypto ETFs, the bank is increasing investments in companies connected to the crypto industry. These include Circle, Coinbase, Galaxy Digital, Robinhood, and PayPal.
This suggests something important. Goldman does not appear to be moving away from the crypto market entirely. Instead, the bank seems to be shifting its focus toward the companies building the infrastructure behind it – exchanges, payment systems, and financial services tied to digital assets.
What XRP ETF Flows Show
According to SoSoValue data from January through May 2026, XRP ETFs attracted $15.59 million in new capital during the first month of the year. In February, inflows increased by another $58.09 million. Then came March, when the market recorded net outflows of $31.16 million. This remained the only negative month during the period analyzed.
In April and May, the picture changed sharply. ETFs attracted $81.59 million and $94.71 million respectively, bringing the total accumulated capital in XRP ETFs to $1.39 billion by May.
READ MORE: Aave Restores WETH Collateral Limits After Kelp DAO Exploit
Here comes the more interesting part. For the entire first quarter, the XRP ETF market still remained positive overall, with just $42.52 million in net inflows. This means the market had to absorb not only Goldman’s $154 million selloff, but also find additional buyers to stay in positive territory.
Simply put, other investors bought nearly the entire position that Goldman exited, and the product still managed to stay in the green.
Whether the decision was made too early will depend on how XRP performs over the coming months. If the bank returns with a new XRP ETF position in its next report, it would suggest the sale was temporary. However, if there is no re-entry while the market continues to grow, it would be a clear sign that Goldman is gradually shifting its focus toward crypto infrastructure and proprietary financial products instead of direct token exposure.
Why Goldman Is Preparing Its Own Bitcoin ETF
Goldman Sachs has already filed documents for its own Bitcoin Premium Income ETF, aimed at large institutional clients.
This helps explain why the bank is reducing its positions in IBIT and FBTC. Instead of simply buying ETFs from BlackRock and Fidelity, Goldman plans to offer its own product and profit from management fees and fund operations.
The information presented in this article is intended for informational purposes only and should not be interpreted as financial, investment, or trading advice. Coinspress.com does not promote or advocate for any particular investment strategy, asset, or cryptocurrency project. Cryptocurrency markets are highly volatile and unpredictable – always perform your own research and seek guidance from a qualified financial professional before making any investment decisions.
Kosta Gushterov
Reporter at CoinsPress
Kosta has reported on cryptocurrency markets and blockchain infrastructure since 2020, bringing over six years of hands-on experience in the crypto industry built through daily tracking of markets, trends, and emerging blockchain developments. Specializing in Bitcoin on-chain analysis, institutional ETF flows, and digital asset price action, his work has been cited by other news agencies and consistently covers market developments with a focus on data-driven reporting across Bitcoin, Ethereum, Solana, and XRP. Over the years, Kosta has contributed to multiple crypto media outlets in different regions, authoring over 6,000 articles across the sector. His reporting spans cryptocurrency markets and the broader fintech industry, tracking not only price action but also the technological and regulatory forces shaping the ecosystem. To support his analysis, Kosta actively leverages on-chain data and metrics from leading platforms such as Santiment, Glassnode, and CryptoQuant, enabling deeper, evidence-based market insights. He believes in the power of transparency and the data that underpins the blockchain ecosystem. His academic background in Marketing Management from Denmark further complements his analytical approach, adding a strong understanding of communication strategy and content positioning to his work.
