Goldman Sachs has eliminated its exposure to XRP exchange-traded funds (ETFs), reducing its holdings from approximately $154 million to zero during the first quarter of 2026. The move has drawn attention within the XRP community, as Goldman Sachs was previously one of the largest disclosed institutional holders of XRP-linked ETF products. However, the market’s reaction to the exit may be more significant than the liquidation itself.
Goldman Sachs Cuts XRP ETF Exposure
Goldman Sachs entered the XRP ETF market in late 2025 with a significant position. By the end of the fourth quarter of 2025, the bank had accumulated roughly $154 million in XRP ETF exposure, spread across products from Bitwise, Grayscale, Franklin Templeton, and 21Shares. This made Goldman Sachs the holder of nearly 73% of all known institutional XRP ETF investments at the time.
However, Goldman Sachs’ recent Form 13F filing, submitted to the SEC in mid-May, revealed no XRP-linked ETF holdings at the end of the first quarter of 2026. The filing indicates that the XRP liquidation was part of a broader portfolio adjustment. Goldman also closed out its Solana ETF exposure, reduced its Ethereum ETF holdings by about 70%, and trimmed its Bitcoin ETF exposure, although it maintained a substantial Bitcoin ETF position of nearly $700 million.
Market Absorbs the Sale
An XRP commentator known as X Finance Bull on the social media platform X noted that the market’s response to Goldman’s exit was noteworthy. The commentator pointed out that despite Goldman Sachs selling its entire $154 million XRP ETF position, XRP ETFs still recorded $60.5 million in weekly net inflows during the week the news was released. This suggests that demand from other buyers was robust enough to absorb the sale and maintain positive market activity.
Spot XRP ETFs recorded their strongest weekly inflow since January, with cumulative inflows reaching approximately $1.39 billion. Assuming the entire selloff occurred during the same week XRP ETFs posted net inflows, total buying demand would have had to exceed $214 million to offset Goldman’s $154 million exit and still leave the market positive. This suggests that the sale may be more complex than a bearish headline implies. A large exit is only damaging if there is insufficient demand to offset it. In this case, Goldman’s selling pressure was not only absorbed but also surpassed by new buying. This indicates sustained demand for XRP and provides holders with a stronger basis for confidence in their positions, despite Goldman Sachs’ exit.
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