American multinational investment bank Goldman Sachs recently disclosed its massive altcoin holdings, revealing a substantial stake in XRP. The bank reportedly invested $152 million in Spot XRP ETFs, shocking the broader crypto market. Given the altcoin’s ongoing price slump, many in the crypto community see Goldman Sachs’ new interest as a major bullish development that could help propel the cryptocurrency forward.
Goldman Sachs Unveils Massive XRP Bet
In a recent regulatory filing, Goldman Sachs disclosed a whopping $152 million exposure to XRP. This disclosure became public on February 10, based on the US SEC 13F filing. Many in the crypto space, including popular journalist Eleanor Terrett, shared the story on X, with community members expressing their views on why the traditional Wall Street bank is now dipping its toes into alternative cryptocurrencies.
Terrett clarified that Goldman Sachs does not hold the altcoin directly but has exposure to the cryptocurrency through Spot XRP ETFs. The American bank acquired XRP ETFs from issuers such as Bitwise, Franklin Templeton, Grayscale, and 21Shares. Its largest investment is a 1.9 million-share position in the Bitwise XRP ETF, which is worth $39.8 million.
In addition to the token, Goldman Sachs has also invested heavily in Solana Spot ETFs, highlighting a growing interest in altcoins. The SEC filing shows that the bank purchased approximately $108 million in Spot Solana ETFs from asset management firms such as Bitwise, Franklin Templeton, Grayscale, Fidelity, VanEck, and 21Shares. This recent disclosure of interest in altcoins indicates a strong shift toward broader crypto adoption, particularly from traditional financial institutions, which are typically cautious about digital assets
Exposure Comes Before White House Stablecoin Meeting
According to Terrett, Goldman Sachs’ unexpected XRP disclosure comes as the bank appears as a representative in the latest White House meeting concerning stablecoin yield. Many community members view the bank’s disclosure of its crypto holdings right before the meeting as a bullish sign. One member said, “It felt less like transparency and more like positioning,” suggesting possible preparation for future regulatory changes.
Others have suggested that Goldman Sachs’ XRP bag could signal that the CLARITY Act bill currently under discussion may be passed. On Tuesday this week, the White House held a meeting between banking and crypto stakeholders to discuss stablecoin yield. During the meeting, contrasting opinions were shared. However, Ripple’s CEO Brad Garlinghouse later revealed that bank representatives may finally be coming to a compromise.
With a stablecoin regulatory bill still in the works and globally recognized institutions like Goldman Sachs zeroing in on the cryptocurrency, market uncertainty persists. Crypto commentators say this is a sign that institutions are finally returning to the altcoin. Specifically, market analyst Xaif Crypto stated that Wall Street is no longer watching but is now allocating capital to cryptocurrencies. He added that this marks a notable step for institutional adoption within regulated markets.
Featured Image from Shutterstock, chart from Tradingview.com
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