Key Highlights
Goldman Sachs fully exited Solana and XRP ETF/trust positions in Q1 2026.
The bank opened a new Hyperliquid-linked PURR strategy position.
Hyperliquid RWA open interest recently hit a record $2.6 billion.
Traders see the move as growing institutional interest in DeFi infrastructure.
Wall Street giant Goldman Sachs has made a major shift in its crypto positioning during Q1 2026, according to its latest 13F filing.
The filing reveals that Goldman fully exited all reported Solana and XRP ETF/trust positions while simultaneously opening a new position tied to the rapidly growing Hyperliquid ecosystem through the PURR Hyperliquid-linked strategy product.
The move is now drawing strong attention across crypto markets as institutional firms increasingly explore decentralized finance infrastructure and tokenized real-world asset platforms.
Goldman Sachs Fully Dumps Solana ETF Exposure
According to the filing, Goldman Sachs completely liquidated every reported Solana-linked position during the first quarter of 2026.
The exited positions included:
Bitwise Solana Staking
Grayscale Solana Trust
Fidelity Solana Fund
VanEck Solana Trust
21Shares Solana ETF
Franklin Solana Trust
This marks a sharp reversal from late 2025, when Goldman was among the most notable institutional holders of Solana investment products.
The decision has sparked debate among traders over whether the bank is reducing exposure to legacy altcoin ETF products or simply reallocating toward higher-growth infrastructure plays.
XRP ETF Holdings Also Reduced to Zero
Goldman also completely exited its XRP-related ETF exposure during Q1.
The sold positions included:
Bitwise XRP ETF
Franklin XRP Trust
Grayscale XRP Trust ETF
21Shares XRP ETF
This is particularly notable because Goldman previously held roughly $154 million worth of XRP ETF exposure and was considered one of the largest institutional XRP ETF holders earlier this year.
Back in February and March, the bank’s XRP positions were widely viewed as a strong signal of growing Wall Street interest in altcoin ETFs.
GOLDMAN SACHS GROUP INC Q1 2026 HOLDINGS/Source: @DegenerateNews (X)
Goldman Adds Fresh Hyperliquid Position
While exiting Solana and XRP products, Goldman simultaneously initiated a new position tied to Hyperliquid.
The filing shows ownership of 654,630 shares in the PURR Hyperliquid-linked strategy product.
This marks Goldman’s first publicly disclosed exposure connected directly to the Hyperliquid ecosystem and comes at a time when the platform is rapidly expanding across perpetuals, tokenized assets, and real-world asset markets.
The move also follows Hyperliquid’s recent push into high-profile markets like the SpaceX pre-IPO perpetual launch.
Hyperliquid’s Growth Narrative Keeps Accelerating
The timing of Goldman’s new position is especially interesting given Hyperliquid’s explosive momentum throughout 2026.
Recently, the platform reported real-world asset open interest surpassing $2.6 billion, more than doubling within just two months.
Meanwhile, $HYPE continues to outperform much of the broader crypto market. The token is currently trading near $45.53, up 79% year-to-date with a market capitalization around $11.58 billion.
Hyperliquid (HYPE) Price/Source: Coinmarketcap
Hyperliquid has increasingly positioned itself as a major blockchain for perpetual futures, spot trading, and tokenized real-world asset infrastructure operating fully on-chain.
The ecosystem has also continued expanding globally through HIP-3 deployments and tokenized market launches.
Market Watches Institutional Rotation Into DeFi Infrastructure
Many traders now see Goldman’s portfolio reshuffle as a potential sign of institutional rotation toward emerging decentralized finance infrastructure.
While some analysts believe the exits from Solana and XRP may simply reflect portfolio rebalancing or profit-taking, others argue the new Hyperliquid allocation highlights growing institutional interest in next-generation on-chain trading ecosystems.
Discussions across X quickly turned bullish on Hyperliquid following the filing.
Several community members pointed to Hyperliquid’s dominance in decentralized perpetuals trading as a major reason institutions may be starting to pay closer attention.
Others argued that institutional filings themselves are lagging indicators, but still useful for understanding broader capital rotation trends inside crypto markets.
Broader Crypto Context
Goldman’s filing also arrives during a period where institutional crypto positioning continues evolving rapidly.
Despite fully exiting Solana and XRP ETF exposure, the bank still maintains sizable Bitcoin ETF holdings worth more than $700 million according to multiple reports.
At the same time, many institutions appear increasingly interested in platforms tied to tokenized assets, real-world finance infrastructure, and high-performance on-chain trading systems.
This broader shift could become one of the defining themes of the current crypto cycle.
Bottom Line
Goldman Sachs’ latest 13F filing reveals one of its biggest crypto portfolio reallocations in recent quarters.
The banking giant completely exited Solana and XRP ETF products while quietly establishing a fresh position tied to Hyperliquid’s rapidly expanding ecosystem.
Whether this becomes the beginning of larger institutional adoption of Hyperliquid-related products remains uncertain, but traders and DeFi investors are now watching closely as Wall Street exposure increasingly shifts toward emerging on-chain infrastructure narratives.
Disclaimer: The views and analysis presented in this article are for informational purposes only and reflect the author’s perspective, not financial advice. Technical patterns and indicators discussed are subject to market volatility and may or may not yield the anticipated results. Investors are advised to exercise caution, conduct independent research, and make decisions aligned with their individual risk tolerance.