Goldman Sachs cuts bitcoin ETF holdings by 40% in Q4
The Block
Goldman Sachs significantly reduced its spot bitcoin and ether ETF holdings during the fourth quarter of 2025.Summary
Goldman Sachs reduced its holdings in spot bitcoin and ether exchange-traded funds by approximately 40% and 27% respectively, as detailed in its Q4 2025 Form 13F filings. As of December 31, 2025, the firm held $1.06 billion in spot bitcoin ETFs (a 39.4% decline in shares) and $1 billion in spot Ethereum ETFs (a 27.2% drop in shares). Concurrently, the investment bank established new positions in recently launched spot XRP and Solana ETFs, holding $152.2 million and $108.9 million, respectively. This reduction occurred amid a broader crypto market decline in Q4 2025, where Bitcoin and Ether prices fell, and their respective spot ETFs experienced net outflows.
(Source：The Block)