Goldman Sachs slashed its position in the Ethereum ETF by 70% in Q1 2026 — from $400 million down to $114 million. At the same time, they opened a new position of $67 million in the iShares ETH staking ETF. That's not an exit from Ethereum; it's a rotation from a non-staking ETF to a staking one. Goldman didn't sell the ETH thesis — they just switched the product they're using to express it.
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💣 BOMB ALERT:
Goldman held $114M in the ETH ETF and opened $67M in staking ETH. Bitmine has $12 billion in ETH and hasn't sold a thing. The DTCC has a tokenization pilot on ETH set for July. CoinShares reported outflows of $1 billion in BTC last week — but ETH is holding up better than Bitcoin relatively this week. The stablecoin supply in the network remains at a record $323.3 billion. Prices are dipping. Those in the know aren't selling.
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📊 PRICE: ~$2,100 · -7.4% weekly
🏦 GOLDMAN: -70% ETF ETH without staking · +$67M ETF ETH with staking
🔧 BITMINE: $12,000M in ETH — no sales recorded
💰 STABLECOIN SUPPLY: $323,300M — absolute record unchanged
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📊 VS LAST WEEK:
ETH: $2,290 → $2,100 (-8.3%) 📉
Relative performance: ETH -7.4% vs BTC -7.3% — practically the same
Goldman rotates: from ETF without staking to ETF with staking — thesis intact ✅
🎯 KEY Levels:
🔴 Support: $2,000 — $1,900
🟡 Resistance: $2,200 — $2,300
🟢 DTCC July + full Senate August: $3,000 → $7,500 (Standard Chartered)
⚠️ Loses $2,000: $1,900 → $1,750 — institutional reaccumulation
Goldman hasn't exited ETH. They switched from the no staking product to the with staking product. That distinction matters. It means that the thesis of ETH as a staking yield asset — enabled by the CLARITY Act — is already being expressed by Goldman Sachs since Q1.
📌 IN SUMMARY:
1️⃣ Goldman rotates ETH from no staking → ETH with staking — the CLARITY Act has already changed how the big players express the thesis
2️⃣ Bitmine $12,000M unsold — the most sustained institutional conviction in the market
3️⃣ DTCC pilot July + stablecoin $323B — fundamentals intact under price pressure
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Is Goldman rotating to ETH staking ETF a signal that $ETH outperforms BTC in H2 2026 — or does the 70% cut weigh more than the opening of staking? 👇
⚠️ Not financial advice. DYOR.