- Goldman Sachs fully exited its XRP and Solana ETF positions during Q1 2026
- The bank still holds over $700 million in Bitcoin ETFs and $114 million in Ethereum exposure
- Goldman simultaneously opened a new position tied to Hyperliquid as HYPE continues rallying hard
Goldman Sachs has officially exited all of its XRP and Solana ETF holdings, according to the bank’s latest Q1 2026 13F filing with the SEC. The move marks one of the largest institutional reallocations away from major altcoin ETF exposure this year.
Just one quarter earlier, Goldman held roughly $154 million worth of XRP ETF positions spread across products from Bitwise, Franklin Templeton, Grayscale, and 21Shares. Now those positions are completely gone.
The bank also reduced portions of its Bitcoin and Ethereum ETF exposure, though it still maintains more than $700 million tied to Bitcoin products and roughly $114 million in Ethereum ETFs.
Why Goldman May Have Reduced Altcoin Exposure
The timing lines up with a difficult stretch across crypto markets earlier this year. Bitcoin briefly fell toward the $62,000 range in February while broader macroeconomic pressures, geopolitical instability, inflation fears, and rising bond yields weighed heavily on digital assets.
That environment likely pushed several institutions toward more defensive positioning, particularly around higher-volatility altcoins.
Rather than abandoning crypto entirely, Goldman appears to be consolidating around assets and sectors it views as structurally stronger or institutionally safer during uncertain market conditions.
Hyperliquid Quietly Entered the Portfolio
Interestingly, Goldman did not completely retreat from newer crypto exposure. The filing also revealed a fresh position in Hyperliquid-related equity through the purchase of roughly 654,630 shares of Hyperliquid Strategies Inc. (PURR), valued around $3.3 million.
The investment reportedly arrived only days after Hyperliquid ETFs debuted in the United States, further fueling interest around the rapidly growing decentralized derivatives ecosystem.
That shift is particularly notable because Hyperliquid has become one of the strongest-performing narratives in crypto during 2026 as decentralized perpetual futures trading and real-world asset markets continue expanding aggressively.
HYPE Is Rallying While XRP Struggles
Following the filing, Hyperliquid’s HYPE token continued significantly outperforming the broader market. According to CoinGecko data, HYPE has climbed nearly 81% since May 2025 despite recent market corrections across most major cryptocurrencies.
XRP, meanwhile, has faced additional downside pressure, falling more than 6% over the past week as traders reacted both to broader market weakness and Goldman’s complete ETF exit.
The contrast highlights where institutional capital currently appears most interested: infrastructure, derivatives, tokenized finance, and scalable trading ecosystems rather than older speculative altcoin narratives.
Institutions Are Becoming More Selective
Goldman’s latest filing reflects a larger trend happening across institutional crypto markets. Large financial firms are not necessarily leaving crypto — they are becoming increasingly selective about which sectors they believe can survive long-term integration into traditional finance.
Bitcoin remains the dominant institutional reserve asset. Ethereum still holds major infrastructure relevance. But outside those two, capital is increasingly rotating toward projects tied to trading infrastructure, tokenization, payments, and real-world financial rails.
And right now, Hyperliquid appears to be benefiting directly from that shift.
