Goldman Sachs, a major player in the investment banking industry, recently released its Form 13F disclosure for Q4 of 2025, revealing its positions in the top four cryptocurrencies by market cap. Despite the recent downturn in the digital asset market, the disclosure still offers some interesting insights.
Goldman’s crypto portfolio includes $1.1 billion in Bitcoin (BTC), $1 billion in Ethereum (ETH), $153 million in Ripple (XRP), and $108 million in Solana (SOL). The bank also has indirect exposure to approximately 13,740 BTC through US-based spot Bitcoin ETFs.
The value of these holdings at the end of Q4 was around $1.7 billion, but with the recent volatility in the crypto market, the current value has dropped to $920 million. This discrepancy highlights the challenges of valuing crypto assets due to their price fluctuations.
Despite the decline in value, it’s important to note that this unrealized loss does not indicate a reduction in Goldman’s BTC position. Additionally, the bank has expanded its exposure to altcoins like XRP and SOL, which saw the launch of ETFs tracking their performance in Q4.
The disclosure of Goldman’s crypto holdings has been met with enthusiasm in the crypto community, with many seeing it as a significant step towards institutional adoption of digital assets. The bank’s involvement in the market, along with its White House access and CEO appearances, signals a growing interest in crypto on Wall Street.
The timing of the disclosure is noteworthy, as it coincides with the ongoing discussions around the CLARITY Act, a crypto bill being considered by the White House. Some observers view Goldman’s move as a strategic positioning in anticipation of regulatory developments in the industry.
In conclusion, Goldman Sachs’ foray into the crypto market, with substantial investments in BTC, ETH, XRP, and SOL, underscores the growing mainstream acceptance of digital assets. The bank’s portfolio highlights its confidence in the long-term potential of cryptocurrencies and signals a shift towards greater institutional involvement in the crypto space.
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