Goldman Sachs has accumulated a major position in XRP exchange-traded funds (ETFs), emerging as the largest institutional XRP ETF holder in the United States.

Namely, the firm’s newest 13F filing shows that as of December 31, 2025, Goldman Sachs held no less than $153.8 million worth of shares across four spot XRP funds.

More precisely, the bank has dedicated $40 million to the Bitwise, $38.5 million to the Franklin Templeton, $38 million to the Grayscale Investments, and $36 million to the 21Shares XRP ETF.

Goldman Sachs’ XRP ETF holdings hit record highs

Fourth-quarter 2025 13F filings show that the top thirty institutional XRP investors collectively hold about $211 million in XRP ETF shares, judging by the data presented by Bloomberg analyst James Seyffart on March 10.

This means that Goldman Sachs accounts for roughly 73% of that total, with the next-largest holder, Millennium Management, commanding just $23 million.

Seyffart also noted that XRP ETFs “have actually held up pretty well” considering all the recent price pullbacks, reminding his followers that they have taken in $1.4 billion since launch. 

The sentiment was later echoed by Seyffart’s colleague, Eric Balchunas, who added that the products launched into a 45% drawdown and hinted that retail investors are also playing an important part.

“Like Solana this is really impressive given these launched into a brutal 45% drawdown. Traditionally, inflows are near imposs for ETF having a reverse shiny object moment, and esp if they are brand new. My guess is this is largely XRP super fans vs casual retail,” Balchunas wrote on X.

Goldman’s $153.8 million stake reflects its holdings as of December 31, meaning it could have altered its position in the months since. Accordingly, investors are more than excited for the next filing, coming in May, which will reveal whether the investment bank held through XRP’s decline this year or adjusted its exposure.

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