Goldman Sachs Slashes Bitcoin ETF Stake by Nearly 40 Percent

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Goldman Sachs executed a substantial drawdown of its spot Bitcoin and Ethereum ETF investments during the fourth quarter of 2025, as detailed in its latest US Securities and Exchange Commission filing.

The Form 13F, filed on Tuesday, shows the firm held about 21.2 million shares in spot Bitcoin ETFs as of December 31, 2025, amounting to a combined value of $1.06 billion.

This figure indicates a reduction of 39.4 percent in share count from the holdings reported at the end of the third quarter.

Concurrently, Goldman Sachs also decreased its position in spot Ethereum ETFs, maintaining roughly 40.7 million shares worth an estimated $1 billion at year’s end, a 27.2 percent quarter-over-quarter drop in shares. This pullback from the two largest cryptocurrency ETFs coincided with new allocations to other digital asset products.