In a significant move within the cryptocurrency investment landscape, Goldman Sachs has allocated $108 million to Solana exchange-traded funds (ETFs), as revealed in its recent 13F filing for the fourth quarter of 2025 submitted to the SEC. This investment reflects the bank”s strategy to diversify its cryptocurrency portfolio while scaling back on its positions in traditional digital assets like Bitcoin and Ethereum.
The updated report indicates that Goldman Sachs now holds approximately $2.36 billion in cryptocurrency-related assets through regulated ETFs, which represents about 0.33% of its total declared portfolio. The firm has noted a reduction in its Bitcoin holdings to around $1.1 billion, a decrease of 39.4% from the previous quarter, while its Ethereum investment stands at nearly $1 billion, down by 27.2% compared to the prior period.
In contrast to these reductions, the bank”s entry into Solana and XRP ETFs marks a notable expansion in its digital asset strategy. Specifically, Goldman has invested approximately $45 million in the Bitwise Solana Staking ETF and around $35.7 million in the Grayscale Solana Trust. Smaller allocations are also present in Solana products offered by firms like Fidelity, VanEck, 21Shares, and Franklin Templeton.
Currently, Solana accounts for roughly 4% to 5% of Goldman”s overall cryptocurrency exposure, with total positions in Solana and XRP nearing $260 million. Despite the cuts in Bitcoin and Ethereum, the bank”s overall exposure to the crypto sector has increased by approximately 15% quarter-over-quarter.
Goldman Sachs manages assets exceeding $3.5 trillion and employs a strategy focused on spot ETFs rather than direct custody of cryptocurrencies. This approach allows for seamless integration into institutional risk management frameworks while remaining compliant with regulatory standards set by the SEC. It is important to note that spot cryptocurrency ETFs typically incur annual fees ranging from 0.2% to 0.6%. Given the bank”s exposure of $2.36 billion, this could translate into annual costs between $9 million and $10 million, which is a crucial factor to consider for long-term net returns.
