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- đł Daily Edition: Goldman Discloses $2.3B Crypto Holdings in BTC, ETH, XRP
đł Daily Edition: Goldman Discloses $2.3B Crypto Holdings in BTC, ETH, XRP
The market is still reeling from last week's vicious selloff as Bitcoin looks to find a bottom, and ETF flows are starting to return
Beluga & Will McKinnon
February 11, 2026
In partnership with
After we experienced the steepest single-day selloff since FTX last Thursday and wiped out all the gains we saw since Trumpâs election, the market attempted to recover into the weekend but was shut down. ETF flows have begun to reverse with Cathy Woodâs ARKB posting one of its strongest performances yet on Monday, but we still have a long road to recovering the $6B shed from Bitcoin ETFs since November. As weâre now trading under the breakeven line (average purchase price of ETF holders), we could expect further outflows.
At least one institution has been a buyer recently, as Goldman Sachsâ latest 13F filing revealed a $2.36B digital asset portfolio (about 0.3% of the fund), including Bitcoin, Ethereum, Solana, and XRP. Interestingly, their BTC and ETH holdings are roughly balanced at $1B each. Typically we see institutional portfolios weighted heavier towards Bitcoin given its larger market cap and perceived safety; seeing them weighted equally is a great indicator into Goldmanâs belief in ETH despite recent price action.
Further complaints from journalists and politicians have emerged surrounding Binance and its former CEO CZâs links to Donald Trump, most recently in a Forbes article which reported that Binance holds 87% of all USD1 in circulation. For those unfamiliar, USD1 is the stablecoin from Trump-backed World Liberty Finance, and it was basically unused until they negotiated a deal to use USD1 to pay for an Abu Dhabi-based institutionâs $2B investment in Binance. As CZ plead guilty to AML violations in 2023 then received a pardon soon after these shady business dealings with Trump, lawmakers are understandably concerned.
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