Goldman Sachs disclosed approximately $260 million in combined Solana and XRP ETF holdings by the end of the fourth quarter of 2025, its first reported positions tied to crypto assets other than Bitcoin and Ethereum. XRP allocations were closely balanced across issuers, totaling $152 million. The bank held 2 million shares of the 21Shares XRP ETF valued at $35.9 million, 1.9 million shares of the Bitwise XRP ETF worth $39.8 million, 1.9 million shares of the Franklin XRP Trust valued at $38.4 million, and over 1 million shares of the Grayscale XRP ETF worth approximately $37.9 million.
Solana exposure was more concentrated among early entrants to the market, with about $108 million allocated to Solana products. Of the $108 million allocated to Solana products, about $45 million was invested in the Bitwise Solana Staking ETF and $35.7 million in the Grayscale Solana Trust ETF, while smaller positions were held in funds tied to Fidelity, VanEck, 21Shares, and Franklin Templeton.
Bitcoin remained Goldman’s largest digital asset position at $1.1 billion, followed by Ethereum at $1 billion. The bank reported owning 20.7 million IBIT shares worth over $1 billion, compared with 33.9 million shares in the third quarter of 2025. The filing also details large options positions tied to IBIT.
Goldman’s stance on digital assets has shifted considerably since 2020, when executives publicly expressed skepticism about the sector. The approval of spot Bitcoin ETFs in early 2024 prompted the bank to begin acquiring direct exposure through regulated vehicles.
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