Institutional investors reassessed their crypto ETF exposures in early 2026, with Goldman Sachs making the most dramatic move by liquidating its entire $154 million XRP ETF stake. The bank’s latest 13F filing, submitted to the SEC in mid-May, revealed a complete exit from products issued by Bitwise, Grayscale, Franklin Templeton, and 21Shares. This portfolio reset also included closing out Solana ETF positions, a 70% reduction in Ethereum ETF holdings, and a partial trim of Bitcoin ETF exposure—though the latter remained near $700 million.
What could have triggered panic instead showcased XRP’s resilience. During the same week the news broke, spot XRP ETFs recorded $60.5 million in net inflows, their strongest weekly performance since January. To achieve this while absorbing Goldman’s sell order, total buying volume would have had to exceed $214 million. Market observers noted that demand from other institutional and retail participants not only offset the sell pressure but turned the week positive, pushing cumulative XRP ETF inflows to roughly $1.39 billion.
The trend continued in subsequent weeks. Data from SoSoValue showed XRP investment products attracted $12.57 million by May 23, marking the second time that month the asset outperformed both Bitcoin and Ethereum in weekly ETF flows. In contrast, Bitcoin funds suffered $1.15 billion in outflows, and Ethereum products lost $209.32 million. The divergence highlighted a rotation within the institutional space, with XRP holding steady above $1.36 while broader crypto sentiment weakened.
Analysts pointed out that sustained ETF inflows without a matching price slump signal deep organic demand. XRP’s ability to maintain positive momentum even as Goldman—previously the largest known institutional XRP ETF holder with 73% of all disclosed positions—fully exited underscores a maturing investor base. The price hovers near a key $1.40 resistance, and continued ETF support could fuel a breakout if market conditions stabilize.
