Goldman Sachs gave markets a clearer look at its cryptocurrency exposure in its Q4 2025 SEC 13F filing. Based on the disclosed positions, the bank’s estimated crypto-linked holdings add up to about $2.36 billion. That number sounds big. However, it still equals only around 0.33% of Goldman’s overall investment portfolio, which signals a careful approach.
Bitcoin and Ethereum lead the mix
The filing suggests Goldman keeps its crypto weighting focused on the two biggest names. Bitcoin and Ethereum sit close to a 50-50 split, which many investors read as a “core holdings” stance.
Here is the approximate breakdown from the disclosure:
- Bitcoin (BTC): about $1.1 billion
- Ethereum (ETH): about $1.0 billion
- XRP exposure: about $153 million (via ETFs)
- Solana (SOL) exposure: about $108 million (via ETFs)
If you picture a typical long-term investor, this looks like someone who starts with index funds before picking a few smaller themes. Goldman appears to do something similar by leaning on BTC and ETH first.
ETFs show a compliance-first strategy
The filing also points to a key detail: Goldman largely gets exposure through regulated products like exchange-traded funds, not direct custody of tokens. That choice can reduce operational headaches while keeping the bank inside familiar compliance lanes. It also helps explain why XRP and Solana show up as ETF exposure rather than as direct holdings.
Goldman’s disclosure offers one of the more detailed public snapshots of a major U.S. bank’s digital asset positioning. It may encourage other conservative institutions to take a closer look. Still, the small portfolio share shows the bank treats crypto as a measured addition, not a core bet.
