Goldman Sachs significantly reduced its exposure to cryptocurrency exchange-traded funds (ETFs) during the fourth quarter of 2025, according to a 10 Feb SEC filing that reveals a notable shift in the Wall Street giant's digital asset strategy.
Goldman Sachs Slashes Bitcoin ETF Holdings by 39%, Ethereum ETF by 27%
11 February 2026 - 11:52 CET
By Sandmark staff
Major Reductions in Core Holdings
The investment bank cut its Bitcoin ETF holdings by 39% in the fourth quarter, reducing its position to approximately 21mn shares worth just over $1bn as of 31 Dec. Alongside the Bitcoin holdings, the bank's Ethereum ETF holdings fell 27% to roughly 41mn shares also valued at about $1 billion.
The reductions came as cryptocurrency markets experienced significant volatility in late 2025, with Bitcoin retreating from highs near $114,000 during the quarter. Bitcoin has recently dipped below $60k before recovering to around $66k, meaning the firm's remaining holdings have suffered around 45% in unrealized losses since the filing date.
Adding XRP and Solana
Despite the major cutbacks in Bitcoin and Ethereum, Goldman entered new territory by establishing positions in recently launched crypto ETFs. The firm disclosed holdings of $152mn in spot XRP ETFs and $109mn in spot Solana ETFs, both of which debuted during the fourth quarter.
Goldman's total cryptocurrency ETF exposure now stands at approximately $2.3bn across all four digital assets. The firm maintains all its crypto exposure through regulated ETF products rather than holding tokens directly, a consistent strategy given its institutional risk management approach.
