Solana News: Goldman invests US$108 million in SOL ETFs

• Goldman Sachs increases exposure to Solana ETFs.
• Bank reduces holdings in Bitcoin and Ethereum ETFs.
• Cryptocurrency portfolio totals US$2,36 billion.

Goldman Sachs reported holding $108 million in Solana ETFs, according to a 13F filing for the fourth quarter of 2025 submitted to the SEC. The update shows that the bank holds approximately $2,36 billion in cryptocurrency-linked assets through regulated ETFs, equivalent to roughly 0,33% of its total reported portfolio.

In addition to the new exposure to Solana, the report details $1,1 billion in Bitcoin ETF holdings and approximately $1 billion in Ethereum ETFs. Also appearing are $153 million in products linked to XRP. Although Bitcoin and Ethereum remain the bank's largest digital holdings, the quarter marked Goldman's official debut in XRP and Solana spot ETFs.

As of December 31, 2025, the institution held approximately 21,2 million shares of Bitcoin ETFs in the spot market, valued at around US$1,06 billion. This volume represents a 39,4% reduction compared to the previous quarter. Even so, Bitcoin accounts for approximately 47% of the bank's total cryptocurrency allocation.

In the case of Ethereum, Goldman declared approximately 40,7 million shares in spot ETFs, totaling close to US$1 billion. The position shrank by about 27,2% compared to the previous quarter and corresponds to approximately 42% of the total crypto exposure.

While reducing Bitcoin and Ethereum holdings, the bank opened new fronts. Approximately US$152,2 million was invested in XRP ETFs and US$108 million in Solana ETFs. Of the Solana holdings, approximately US$45 million went to the Bitwise Solana Staking ETF and about US$35,7 million to the Grayscale Solana Trust. There are also smaller stakes in Solana products offered by Fidelity, VanEck, 21Shares, and Franklin Templeton. The Solana stake represents between 4% and 5% of the institution's total cryptocurrency exposure.

Combined, the positions in XRP and Solana are close to US$260 million. During the period, despite the cut in Bitcoin and Ethereum, the bank's total exposure to the sector increased by approximately 15% quarter-on-quarter.

Goldman manages over $3,5 trillion in assets. The strategy adopted involves spot ETFs, not direct custody of Bitcoin, Ethereum, XRP, or Solana. These funds are regulated by the SEC and traded on traditional exchanges, facilitating integration into the institutional risk management framework.

On the other hand, spot cryptocurrency ETFs typically charge annual fees between 0,2% and 0,6%. Considering an exposure of US$2,36 billion, an average fee of 0,4% would imply something between US$9 million and US$10 million in annual costs, a relevant factor in long-term net return.