US investment bank Goldman Sachs sharply reduced its exposure to cryptocurrency exchange-traded funds (ETFs) in the first quarter of 2026.

No XRP-linked ETFs appeared in Goldman Sachs’ Q1 Form 13F filing with the US Securities and Exchange Commission.

In its Q42025 13F filing, Goldman Sachs reported holding nearly $154 million worth of XRP-related ETFs from Bitwise, Franklin Templeton, Grayscale and 21Shares.

Goldman Sachs was the largest institutional holder of XRP-related ETFs as of Dec. 31, 2025. Source: James Seyffart

Quarterly 13F filings are closely watched by crypto investors because they provide a rare look into how major institutional asset managers are allocating capital across digital-asset investment products. The bank pulled back from XRP products, even as broader institutional interest in digital-asset ETFs remains intact.

Early pullback from new crypto ETFs

Goldman Sachs no longer reported any holdings in Solana-linked ETFs either.

The bank previously disclosed positions in Solana-linked ETFs, including the Grayscale Solana Trust ETF (GSOL), the Bitwise Solana Staking ETF (BSOL) and the Fidelity Solana Fund (FSOL).

Both XRP- and Solana-linked ETFs launched in late 2025, when issuers began rolling out a new wave of crypto funds beyond Bitcoin (BTC) and Ether (ETH).

Solana ETFs began trading in late October 2025, with additional funds rolling out in November. The first spot XRP ETFs hit the market in mid-November as issuers raced to bring new altcoin products to investors.

Goldman Sachs trims Bitcoin ETF exposure, but still holds more than $700 million

While no longer reporting ETF exposure to XRP and Solana, Goldman Sachs continued to hold significant positions in Bitcoin and Ether ETFs, along with equity tied to crypto companies.

The bank held about $690 million in BlackRock’s iShares Bitcoin Trust ETF (IBIT) and another $25 million in the Fidelity Wise Origin Bitcoin Fund (FBTC), even after reducing both positions by roughly 10% during the quarter.

Goldman Sachs also cut its position in the iShares Ethereum Trust (ETHA) by about 70%, leaving it with roughly 7.2 million shares valued at around $114 million.

Related: JPMorgan piles into BlackRock’s Bitcoin ETF in Q1 2026

In crypto equities, Goldman Sachs increased its exposure to several names, led by a 249% jump in Circle Internet Group (CRCL) and a 205% rise in Galaxy Digital (GLXY), while also adding to positions in Coinbase Global (COIN), Robinhood Markets (HOOD) and PayPal Holdings (PYPL) during the quarter.

At the same time, it reduced stakes in major mining and infrastructure names, including BitMine Immersion Technologies (BMNR), Bit Digital (BTBT) and Riot Platforms (RIOT). It reduced positions in Strategy (MSTR) and IREN (IREN).

Magazine: XRP ‘probably going to $12,’ Bitcoin ETFs add $1B: Market Moves

XRP (XRP) may go on a 10x–15x rally from its “quiet accumulation” zone, according to analyst Crypto Patel, who says the muted price action resembles the calm before its major breakout in late 2024.

Key takeaways:

• XRP’s lack of retail hype may lead to a rally toward $5, $10 and $15 targets.
• XRP’s current $1.00–$0.70 demand zone is similar to its 2022–2024 base, which preceded an 835% rally.

Lack of retail hype hints at XRP boom toward $15

In his Sunday post, Patel highlighted the $1.00–$0.70 range as a potential long-term accumulation zone, arguing that XRP’s muted sentiment and lack of retail hype could precede a larger upside move.

His chart showed XRP pulling back after failing to break the $3.20–$3.50 resistance area, with price now drifting toward a green demand zone that he views as a potential “massive opportunity.”

XRP/USD two-week chart. TradingView/Crypto Patel

The analyst projected upside targets at $5, $10, and $15, implying roughly 10x–15x potential from the lower end of the accumulation range if XRP repeats its 2022–2024 cycle-style expansion.

That comparison is central to Patel’s bullish case.

In the previous cycle, XRP spent months building a base around the $0.32–$0.40 area before breaking above a multi-year descending trend line near $0.55–$0.60 in November 2024.

The breakout also cleared the broader $0.65–$0.85 resistance band, marked in blue on the chart, followed by an 835% rally toward $0.40 over the next two months.

CLARITY Act may push XRP into a multi-year bull market

The late 2024 rally had a clear fundamental trigger.

Donald Trump’s re-election as US president in November 2024 boosted risk appetite across crypto markets, as traders viewed his incoming administration as far more supportive of digital assets than the previous administration.

In 2026, a similar potential catalyst is emerging with the CLARITY Act, which has advanced in the Senate.

The bill aims to create a clearer US market-structure framework for crypto by defining when digital assets fall under securities or commodities rules.

Related: Italy’s largest bank more than doubles crypto holdings to $235M in Q1: Report

Jason Yanowitz, co-host of the Empire podcast at Blockworks, named XRP as one of the altcoins that may enter a multi-year bull market if the CLARITY Act becomes law.

Analyst Michaël van de Poppe said he’ll stay “fully allocated toward altcoins” for his personal crypto portfolio.

XRP network metrics see the highest one-day growth since March

On-chain data from Santiment adds another layer to XRP’s bullish setup, showing that the recent recovery coincided with a sharp rebound in network activity.

On Saturday, the XRP Ledger recorded its strongest 24-hour activity levels since March, with 48,453 active addresses, the highest since March 30, and 3,317 new addresses, the highest since March 19.

XRP Ledger daily active addresses and network growth. Source: Santiment

“Higher adoption helps justify higher prices,” Santiment wrote, noting that the activity spike could support XRP’s “mid- and long-term price growth” if it proves sustainable.

Earlier this week, the XRP network also witnessed a rise in the number of whale wallets, with Santiment noting that they were accumulating the token at record levels.

XRP chart triangle setup risks drop toward $1

XRP’s short-term chart shows a symmetrical triangle forming after months of lower highs and higher lows.

XRP/USD daily chart. Source: TradingView

The latest rejection near the upper trend line suggests bulls still lack enough momentum to confirm a breakout.

If XRP breaks below the triangle’s lower trend line, the setup could flip bearish and open the door to a measured move toward the $1.00–$1.10 support area, down approximately 20% from the current prices.

Standard Chartered has announced that its offer to acquire the business of Zodia Custody has been accepted by shareholders.

The deal, announced Monday, will consolidate Standard Chartered’s digital asset custody operations while separating a standalone infrastructure platform for institutional clients.

Zodia Solutions will be established as an independent entity under SC Ventures, backed by several banking investors, including existing Zodia Custody shareholders, and will provide “bank-grade infrastructure” to financial institutions, including Standard Chartered, as they expand digital asset services.

Zodia Custody was originally launched in 2020 by Standard Chartered and Northern Trust as a regulated crypto custody platform for institutional investors.

The bank said the transaction will “drive value by unlocking revenue and cost synergies” while enabling a more comprehensive offering to digital asset custody clients globally.

Related: Standard Chartered takes stake in crypto market maker GSR

Standard Chartered to acquire Zodia Custody’s custody business. Source: Standard Chartered

Margaret Harwood-Jones, global head of financing and securities services at Standard Chartered, said in the release that the deal would accelerate the growth of Standard Chartered’s global digital asset custody portfolio.

The companies said they do not expect the transaction to disrupt existing custody clients, who will continue to receive services as usual.

A Standard Chartered spokesperson declined to comment further.

Broader bank push into digital asset custody

In April, Bloomberg reported that Standard Chartered was considering bringing parts of Zodia Custody in-house by merging the custody business into an existing division, while leaving Zodia to operate as a software-as-a-service platform.

The announcement formalizes that strategy amid a broader push by major banks to secure trust bank charters and other regulatory structures to custody crypto directly for clients.

BNY Mellon, for example, launched its Digital Asset Custody platform in the US as far back as 2022, enabling selected clients to hold and transfer Bitcoin (BTC) and Ether (ETH) alongside traditional assets on a single platform.

In February 2026, Morgan Stanley applied for a US de novo national trust bank charter. The charter would allow it to custody certain digital assets for clients within a bank-regulated framework.

Magazine: Singapore isn’t a ‘crypto hub’ — it’s something better: StraitsX CEO

Michael Saylor’s Strategy, the world’s largest public Bitcoin holder, made another massive BTC acquisition last week as the crypto asset hovered around $80,000.

Strategy acquired 24,869 Bitcoin (BTC) for $2.01 billion between May 11 and 17, according Monday’s 8-K filing with the US Securities and Exchange Commission.

Source: SEC

The purchases were made at an average price of $80,985 per BTC, raising Strategy’s cost basis to $75,700.

The company now holds 843,738 BTC, acquired for about $63.87 billion. At the time of publication, the holdings were valued at roughly $65.3 billion, according to CoinGecko.

STRC sales account for 97% of the entire purchase

Strategy funded nearly all of its latest Bitcoin purchase through sales of its STRC perpetual preferred stock, which accounted for about 97% of total proceeds.

According to the SEC filing, Strategy raised roughly $1.95 billion from the sale of about 19.5 million STRC shares.

In comparison, Strategy’s Class A common stock (MSTR) contributed a smaller share of funding, generating about $83.7 million in net proceeds from the sale of 430,344 shares.

Source: SEC

The outcome was broadly in line with expectations from STRC Live, which reported heavy STRC activity during the week, including a record trading day of 15.1 million shares, with estimated purchases of around 15,466 BTC.

The structure mirrors previous large bitcoin buys this year, including a 34,164 BTC purchase, Strategy’s third-largest on record, which was also largely financed through preferred securities rather than common equity.

Related: Strategy resumes Bitcoin acquisitions with $43M BTC buy

Strategy co-founder Saylor previously signaled that the company would add to its Bitcoin holdings by posting a chart showing Strategy’s purchase history with 109 Bitcoin acquisition events since 2020.

Its 843,738 BTC now far outpaces BlackRock, the world’s largest asset manager, which holds around 817,000 BTC on behalf of its clients.

The purchases came a week after Saylor raised the possibility of selling Bitcoin during Strategy’s recent earnings call, framing it as a way to better protect the asset’s long-term value.

He said that sticking too rigidly to a “never sell” Bitcoin approach could, over time, work against the very asset the company is built to accumulate and hold.

Magazine: Bitcoin ETFs bleed $1B, Aave’s $71M ETH unfreeze bid delayed: Hodler’s Digest, May 10 – 16

Bitcoin Depot, one of the largest Bitcoin ATM operators in the US, filed for Chapter 11 bankruptcy protection as the company moved to wind down operations and sell its assets.

In a Monday announcement, Atlanta-based Bitcoin Depot said it started voluntary Chapter 11 proceedings in the US Bankruptcy Court for the Southern District of Texas, citing mounting regulatory pressure and financial strain.

CEO Alex Holmes said the company strengthened anti-fraud protections in recent years, including stricter identity checks and lower transaction limits, but argued that growing compliance demands and enforcement actions made the business model “unsustainable.”

The filing marks one of the biggest collapses in the crypto ATM sector to date and highlights the increasing pressure facing companies that provide cash-to-crypto services in the US.

Thousands of Bitcoin ATMs taken offline

Bitcoin Depot said its network of Bitcoin ATMs has already been taken offline as part of the court-supervised restructuring process. The company operated more than 9,000 kiosk locations globally as of August 2025 and held one of the largest market shares in North America.

The company said the bankruptcy process is intended to support an “orderly wind-down” while allowing management to pursue a sale of its assets.

Bitcoin Depot’s first-day bankruptcy hearing is scheduled for Tuesday at 7:00 pm UTC, according to court information published on Kroll’s restructuring portal. The company appointed law firm Vinson & Elkins as legal adviser, while Portage Point Partners will oversee restructuring efforts.

Bitcoin Depot’s crypto ATM locations. Source: CoinATMRadar

Bitcoin Depot’s Canadian entities are also included in the restructuring process, with separate proceedings expected to begin in Canada. The company added that its remaining non-US entities will shut down under local laws.

Regulatory pressure weighs on the crypto ATM industry

Crypto ATMs have become a popular on- and off-ramp, allowing users to buy Bitcoin with cash or withdraw cash by selling it.

However, regulators in several US states and Canada have been scrutinizing the sector, citing complaints tied to scams and fraud.

Operators in the sector have also faced lawsuits, while multiple jurisdictions have proposed blanket bans on crypto ATMs.

Bleak outlook for crypto ATM operators

Bitcoin Depot’s collapse may signal broader trouble ahead for the crypto ATM sector in the US as regulators tighten oversight of cash-to-crypto services.

“Bitcoin Depot’s bankruptcy is likely a preview of what the broader crypto ATM industry will face in the US over the next several years,” Roshan Dharia, CEO of Echo Base and a restructuring adviser, told Cointelegraph.

Dharia said the traditional crypto ATM business model relied on high transaction fees and relatively limited regulatory scrutiny to offset steep operating costs tied to compliance, cash handling, fraud remediation and revenue-sharing agreements with retail partners.

Related: Canada proposes crypto ATM ban over scams and money laundering

“That equation is breaking down as states increasingly impose consumer protection standards that compress fees, expand operator liability for scam-related activity, and raise expectations around transaction monitoring and reimbursement,” he said, adding:

“The result is that many crypto ATM operators may no longer be able to generate sufficient margin to support a nationwide network at scale.”

Bitcoin Depot shares plunged more than 70% in premarket trading following the bankruptcy announcement, according to TradingView data. Since debuting on the Nasdaq under the ticker “BTM” in July 2023, the company’s stock has fallen roughly 95% to about $2.93.

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Lotment Capital expands multi-asset strategy access, including crypto investment tools for users.

Lotment Capital is committed to supporting users every step of the way, offering a wide range of tools and solutions that help them focus on decision-making and the implementation of their ideas. The company has created a system that combines a diverse range of assets, a functional platform, and the professional support of its team. This empowers clients to optimise their time and make data-driven decisions.

Diversity of investment areas

One of Lotment Capital advantages is access to a wide range of financial instruments. The company offers customers the opportunity to work with assets across various categories, including cryptocurrencies, paving the way for the creation of flexible and promising portfolios. This diversity allows investors to evaluate the strengths of each segment, combining tools with different characteristics and growth potential.

Working with multiple areas allows clients to develop a strategy that aligns with their personal goals and trading style. Some choose assets with stable dynamics, others prefer more innovative instruments or combine both approaches. Lotment Capital creates an environment where every investor can find a suitable option and effectively exploit its opportunities.

Furthermore, access to cryptocurrencies opens up additional opportunities, as this segment continues to grow rapidly. The ability to include digital assets in a portfolio makes working with the company particularly attractive for those seeking to make a profit on current market trends and unique conditions.

Advanced platform capabilities

A functional platform is the foundation of a successful investor, and Lotment Capital places special emphasis on this area. The company provides clients with access to a wide range of tools that help them analyse the market, manage trades, and build strategies based on current information.

The platform includes analytical solutions that allow the customer to track asset dynamics, identify patterns, and find new entry points. Thanks to its user-friendly interface, investors can quickly navigate data and make decisions based on objective information.

Additional trade management tools help clients effectively control customers’ positions. The ability to flexibly adjust parameters and quickly respond to market makes working more convenient and productive. The Lotment Capital platform is designed to ensure that every user can work in a comfortable environment and utilise all available features to their full potential.

Professional team support

Another key advantage of Lotment Capital is the ability to receive assistance from a team of experienced specialists. Clients can contact the company’s professionals for advice on specific situations or to create a comprehensive strategy tailored to their goals.

This support is especially valuable for those seeking to develop and improve their skills. Specialists help analyse the market, identify promising areas, and make decisions based on objective data. This allows clients to feel confident and move forward with a clear understanding of their steps.

Furthermore, the ability to receive individualised recommendations makes working with Lotment Capital more personalised. Each investor receives attention and support that helps them achieve their goals and maximise the market’s potential.

In summary

By combining a wide selection of assets, a functional platform, and professional support, Lotment Capital creates an atmosphere in which clients can confidently grow and achieve impressive results on an ongoing basis. The company strives to provide users with all the necessary tools and opportunities to help every investor realise their potential and build a successful strategy. This approach allows them to enjoy a comfortable trading environment.

The company’s format of interaction creates a solid foundation for long-term cooperation. This makes it a partner for those striving for success and looking to confidently move forward in the world of investing.

Key Highlights

• Zerohash obtains Electronic Money Institution authorization following MiCAR certification.
• Company becomes pioneering MiCAR-licensed entity to achieve complete Dutch EMI credentials.
• EMI authorization expands Zerohash’s capabilities for European stablecoin operations.
• Move reinforces company’s regulated digital asset payment infrastructure across EU.
• Dutch EMI credentials enhance Zerohash’s competitive stance in crypto services sector.

Zerohash Europe has obtained Electronic Money Institution authorization from De Nederlandsche Bank, establishing itself as the pioneering MiCAR-certified digital asset firm to achieve complete EMI credentials. This regulatory milestone provides the organization with expanded legal authority for cryptocurrency services and electronic payment operations. The approval solidifies Zerohash’s standing within Europe’s regulated blockchain asset ecosystem.

Electronic Money Authorization Broadens European Operations

The EMI authorization enables Zerohash to conduct conventional electronic payment activities throughout the European Economic Area. The organization can now facilitate payment transactions, stablecoin applications, and digital asset services under enhanced regulatory frameworks. This development establishes a transparent pathway for financial institutions, technology companies, trading platforms, and service providers requiring compliant operational infrastructure.

Zerohash obtained its MiCAR authorization in October 2025 from the Dutch Authority for the Financial Markets. MiCAR provides crypto-asset service operators with authorization to function throughout EU member states. Nevertheless, stablecoin-related transactions demand additional regulatory supervision under electronic money regulations.

The European Banking Authority implemented this regulatory distinction through official guidance issued in 2025 and subsequent clarifications published in 2026. The authority determined that certain electronic money token transactions fall within existing electronic payment regulatory frameworks. Consequently, the EMI authorization provides Zerohash with supplementary regulatory authority in areas where MiCAR certification alone might not encompass all service offerings.

Stablecoin Regulatory Framework Drives Strategic Expansion

The EMI authorization carries significant importance as European authorities continue developing comprehensive regulatory frameworks for stablecoins. Organizations processing stablecoin-enabled financial transactions require explicit authorization to integrate cryptocurrency infrastructure with conventional payment networks. Zerohash now possesses the capability to address this market need through combined MiCAR and EMI credentials.

The organization indicated that the dual authorization structure supports financial institutions, brokerage firms, payment processors, and enterprise platforms. It enables business partners to integrate cryptocurrency and stablecoin capabilities without developing comprehensive infrastructure internally. This operational approach aligns with Europe’s increasing demand for regulatory-compliant digital asset solutions.

Zerohash has strengthened its European operations from its Amsterdam headquarters in recent periods. The company currently provides services to Interactive Brokers Europe throughout the region. Furthermore, the EMI authorization strengthens the company’s market position as stablecoin utilization expands across payment systems, trading venues, and financial service platforms.

Capital Raising and Banking Charter Initiatives Provide Additional Perspective

Zerohash commenced operations in 2017 and currently maintains a workforce of approximately 200 employees globally. The organization operates facilities in New York, Chicago, North Carolina, and Amsterdam. The company successfully completed a $104 million Series D-2 financing round at a $1 billion corporate valuation.

The organization has additionally submitted an application to the U.S. Office of the Comptroller of the Currency seeking a national trust banking charter. This initiative demonstrates its strategic plan to expand regulated activities beyond European markets. The newly obtained EMI authorization adds strategic momentum to its worldwide regulatory compliance approach.

Industry reports also connect Zerohash to ongoing capital raising discussions following unsuccessful acquisition negotiations with Mastercard. The company reportedly seeks to raise $250 million at a $1.5 billion valuation. As a result, the EMI authorization reinforces its competitive market position as digital asset infrastructure providers compete for regulated enterprise clientele.

NYDIG says a rare bipartisan window to pass a comprehensive US crypto market‑structure bill could slam shut if Congress fails to move it before the August recess.

At stake is one of the most ambitious attempts yet to build a comprehensive federal framework for digital assets in the US. The draft bill is designed to clarify how tokens are classified, draw a bright line between securities overseen by the SEC and commodities under the CFTC, and create unified operational standards for exchanges, brokers and other crypto businesses.

Core issues: SEC–CFTC lines, stablecoins and DeFi

According to the FinanceFeeds report, the proposed market-structure legislation would, for the first time, codify which digital assets fall under securities law and which are treated as commodities, addressing a long-running turf war between the SEC and CFTC. It would also establish common rules for trading venues and service providers, aiming to replace today’s patchwork of guidance, enforcement actions and state-by-state licensing with a single, more predictable regime.

But NYDIG notes that key issues remain unresolved, including stablecoin oversight, how to regulate DeFi protocols, the contours of consumer protection and how to handle conflicts of political interest. Those disagreements have slowed negotiations and raised doubts about whether lawmakers can lock in compromises before the August deadline.

The firm’s warning comes as global competition intensifies. NYDIG points out that extended US uncertainty is already driving capital, talent and innovation toward jurisdictions with clearer rules, citing the UAE, Singapore and the EU’s MiCA framework as examples of regions that are actively benefiting from America’s drift.

If Congress misses this legislative window, industry participants fear the US could again default to rulemaking by enforcement, with no durable settlement on market structure for years. That would leave exchanges, issuers and developers operating under legal ambiguity just as other financial centers lock in their own digital-asset regimes and pitch themselves as safer homes for long-term investment.