US Banking Giant Goldman Sachs Invests Millions in XRP

Goldman Sachs disclosed significant crypto exposure in its Q4 2025 13F filing, revealing more than $2.36 billion in digital asset holdings. 

The filing shows $1.1 billion in Bitcoin, $1.0 billion in Ethereum, $153 million in XRP, and $108 million in Solana, representing a 0.33% allocation of its reported investment portfolio.

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Banking Giant Embraces XRP Exposure

The disclosure places Goldman among the most exposed major US banks to crypto-linked assets, albeit still at a small percentage of total holdings. 

A closer look at the filing shows Goldman’s XRP exposure comes specifically through XRP exchange-traded funds, with holdings valued at approximately $152 million. 

US Spot XRP ETFs currently hold over $1.04 billion in total net assets. XRP ETFs have been trading for 56 days now, and they have only recorded 4 days of outflow. 

Goldman Sachs is one of the world’s most influential investment banks, advising governments and corporations on mergers, capital markets, and restructuring.

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As of early 2026, the investment bank oversees roughly $3.6 trillion in assets under supervision for institutional and private clients. It also operates large trading, asset management, and wealth management businesses. 

As a market bellwether, its portfolio disclosures often signal broader institutional sentiment.

Goldman Sachs Historical Bitcoin Stance

Historically, Goldman’s public stance on Bitcoin was skeptical. 

Before 2020, executives and research teams described Bitcoin as a speculative asset with limited use as money and no intrinsic cash flows. 

The firm consistently framed crypto as unsuitable for conservative portfolios and emphasized volatility and regulatory risk.

That position began to soften after 2020 as institutional demand increased. Goldman restarted its crypto trading desk, expanded derivatives access, and produced research acknowledging Bitcoin’s role as a potential inflation hedge, while still stopping short of endorsing it as a core asset class. 

Following the crypto winter in 2022, the firm again stressed infrastructure and counterparty risks.

More recently, Goldman has shifted toward cautious participation. It has engaged through ETFs, structured products, and tokenization initiatives, while maintaining that crypto remains speculative.