Goldman Sachs revealed its crypto exposure via ETFs and derivatives in its latest 13F filing, with data from Q4 and Q3 2025.
The banking giant doesn’t hold crypto directly, but it has over $2.3 billion in crypto holdings, with exposure across BTC, ETH, SOL, and XRP products.
Approximate asset reported exposure is as follows:
- Bitcoin (BTC): $1.1 billion
- Ethereum (ETH): $1 billion
- XRP: $153 million
- Solana (SOL): $108 million
Goldman Sachs is one of the largest investment banks in the world.
Goldman Sachs BTC ETF holdings
Based on data from 13F.info, Goldman Sachs had over $1.02 billion in BlackRock’s BTC ETF, IBIT in Q4 2025, in over 20 million shares compared to almost 34 million shares in Q3 2025 worth over $2.2 billion.
The financial entity is down by 53% on its IBIT holdings, compared to Q3 2025.
Apart from direct share holdings in IBIT, Goldman Sachs also disclosed:
- Call option positions on IBIT valued at over $160 million, down by 65% from the previous quarter
- Put option positions on IBIT valued at over $827 million, down by 51% from the previous quarter
SOL, ETH, and XRP exposure
The banking giant also has exposure to SOL, ETH and XRP products.
SOL ETFs
Goldman Sachs also has SOL ETF shares, as of Q4 2025 (with no holdings reported for Q3 2025), as follows:
- Bitwise SOL Staking ETF worth over $45.3 million in Q4 2025
- Grayscale SOL ETF worth over $35,7 million in Q4 2025
- 21Shares SOL ETF worth over $1,2 million in Q4 2025
ETH exposure
The financial entity also has exposure to ETH via shares in BlacRock’s ISHARES ETH Trust (ETHA) and Fidelity’s ETH fund (FETH):
- Shares in ETHA worth over $613.4 million, down by over 54% since Q3 2025
- Shares in FETH worth over $393.8 million, down by 30% since Q3 2025
Goldman Sachs also has positions on put options in ETHA worth over $50 million in Q4, 2025, down by 89% since the previous quarter, and on call options in ETHA worth more than $14.9 million, down by 93% since Q3 2025.
XRP ETFs and other products
The investment giant holds shares in XRP ETFs as of Q4 2025:
- Shares in Bitwise XRP ETF worth over $39.8 million
- Shares in Grayscale XRP ETF worth almost $38 million
- Shares in 21Shares’ XRP ETF worth almost $36 million
Goldman Sachs owns shares in Franklin Templeton’s XRP Trust worth over $38.4 million and shares in XRPN, a publicly traded company that holds, accumulates, and manages large amounts of XRP. The bank’s shares in XRPN are worth over $3.7 million in Q4 2025, down by 2% since Q3.
According to the same 13F portfolio filings, Goldman Sachs has over $811 billion in total holdings in Q4 2025, down from $817 billion in the previous quarter.
