Goldman Sachs disclosed a $153.8 million position across four spot XRP ETFs in its Q4 2025 13F filing — making it the largest institutional holder of XRP ETFs with approximately 73% of all reported institutional exposure.
Goldman Sachs disclosed a $153.8 million position across four spot XRP ETFs in its Q4 2025 13F filing — making it the largest institutional holder of XRP ETFs with approximately 73% of all reported institutional exposure.
Goldman Sachs disclosed a $153.8 million position across four spot XRP ETFs in its Q4 2025 13F filing — making it the largest institutional holder of XRP ETFs with approximately 73% of all reported institutional exposure.
The position, equivalent to roughly 83.6 million XRP tokens, was spread evenly across:
1. Wall Street is legitimizing altcoin ETFs beyond Bitcoin
Goldman Sachs is a $3.5 trillion AUM firm. When they allocate nine figures to XRP ETFs within months of launch, it signals that institutional interest isn't limited to Bitcoin and Ethereum. Altcoins with regulatory clarity are now "portfolio-grade."
2. The timing is telling
XRP ETFs launched in November 2025. Goldman accumulated its position by December 31, 2025 — within 60 days of launch. This wasn't a slow drip; it was deliberate, rapid allocation.
3. Price hasn't reacted — yet
Despite Goldman's disclosure and $1.4B+ in cumulative XRP ETF inflows, XRP price has declined from $2.40 (January) to ~$1.40 (March). This suggests:
Goldman isn't alone, but they dwarf the competition:
| Institution | XRP ETF Holdings |
|---|---|
| Goldman Sachs | $153.8M (73%) |
| Millennium Management | $23.1M |
| Others (28 institutions) | ~$34M combined |
| Total Institutional | ~$211M |
Total XRP ETF AUM: $1.44 billion (84% retail, 16% institutional)
The Depository Trust & Clearing Corporation — which custody over $114 trillion in securities and settles nearly every US stock trade — will facilitate its first production tokenized securities transactions on July 15, 2026, with a 50-firm working group including BlackRock, Goldman Sachs, JPMorgan, and Nasdaq. The rollout covers Russell 1000 equities, major ETFs, and US Treasuries, with full commercial launch targeted for October 2026.
The OCC granted Circle final approval to establish Circle National Trust, a federally supervised national trust bank, placing the world's second-largest stablecoin (USDC, $73.2B) under direct federal banking oversight — with reserve management as a planned future capability.
Morgan Stanley amended SEC filings for its proposed Ethereum (MSSE) and Solana (MSOL) ETFs with a 0.14% management fee — the lowest in crypto ETFs — while offering staking yield (50-80% ETH, up to 100% SOL). Its Bitcoin ETF (MSBT), launched just April 8, already holds $364M.