Goldman exits XRP ETF & Solana ETF in Q1 2026, keeps BTC/ETH exposure

Published: 2026-05-19 04:15:23 |

Goldman Sachs exited both XRP ETF and Solana ETF holdings in Q1 2026, with its latest Form 13F showing zero positions in XRP ETFs and SOL ETFs. This reverses an earlier build-up of about $154 million in XRP ETF exposure. In the same 13F, Goldman’s crypto ETF allocation shifted toward Ethereum and Bitcoin. Reported holdings include iShares Ethereum Trust positions totaling roughly $114M, $60M and $3.4M, plus an iShares Staked Ethereum Trust position near $66.9M. For Bitcoin, Goldman retained hundreds of millions mainly via the iShares Bitcoin Trust ETF. The broader portfolio also changed: Goldman increased exposure to crypto infrastructure names such as Circle, Coinbase and Galaxy Digital, while trimming some holdings including Strategy, IREN, Bit Digital and Riot. Trading context: XRP and Solana spot ETFs launched in Q4 2025. Despite Goldman’s exit, XRP spot ETF flows were reported to remain resilient (April returning to inflows; May hitting new cumulative net inflow highs). Solana ETFs have stayed positive since launch, though inflow momentum cooled from earlier peaks. For traders, the key takeaway is that Goldman’s exit from XRP ETF and Solana ETF may be a negative signal for SOL-related sentiment, but ETF flow data suggests the near-term market impact could be limited unless other large holders follow.

Neutral

Goldman’s exit from XRP ETF and Solana ETF is a clear institutional de-risking signal, but the summaries suggest the market impact is likely mixed rather than one-directional. For SOL, the decision can reinforce a cautious stance because it aligns with weaker broader sentiment around SOL at the time. For XRP, however, reported spot ETF flows remained resilient after the exit, which can offset the negative signal from Goldman’s positioning. Since ETF flow trends (inflows vs outflows) often matter more for short-term price action than a single large holder’s Form 13F, the net effect is expected to be limited unless additional institutions follow with similar sell/exit behavior. Overall, price impact on XRP and SOL is therefore assessed as neutral.