David Solomon, CEO of Goldman Sachs, publicly admitted for the first time at the World Liberty Forum in Mar-a-Lago that he owns Bitcoin. The longtime crypto skeptic described his position as "very little" and called himself not a good Bitcoin forecaster.
This admission comes at a time when Goldman Sachs is expanding its crypto involvement. As of year-end 2025, the investment bank held roughly $2.36 billion in crypto ETFs, including first-time positions in XRP and Solana ETFs. Solomon's personal shift reflects a broader strategic pivot across the entire bank.
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From skeptic to crypto investor
For years, Solomon held a split position. He welcomed blockchain technology but rejected Bitcoin as an asset class. As recently as July 30, 2024, he described Bitcoin to CNBC as a "speculative investment." In January 2025, he stated accordingly that Goldman Sachs could neither own nor trade Bitcoin.
But at the World Liberty Forum, the Goldman chief struck a different tone. He acknowledged that the situation had changed "very recently." Solomon said:
"I'm still trying to understand how Bitcoin behaves. I own a little Bitcoin, very little." - David Solomon, CEO Goldman Sachs
Solomon left open what triggered the internal reversal. Possible factors include regulatory easing under the Trump administration or a revised compliance policy at the bank. The GENIUS Act, signed by President Trump in July 2025, created the first regulatory framework for stablecoins in the United States. Solomon himself called for a rules-based system for all crypto regulation at the forum.
Goldman Sachs restructures crypto portfolio
The numbers paint a nuanced picture. As of December 31, 2025, Goldman Sachs held roughly $1.06 billion in spot Bitcoin ETFs. This represents a reduction of about 39 percent compared to the third quarter. At the same time, Ethereum ETF holdings stood at approximately $1 billion, a decline of 27 percent.
Market conditions explain the cuts. Bitcoin fell from $126,000 to around $88,400 in the fourth quarter of 2025. Spot Bitcoin ETFs saw industry-wide outflows of $1.15 billion, while Ethereum ETFs lost $1.46 billion. Goldman Sachs reduced its positions in line with the broader market.
At the same time, the bank diversified its portfolio. New positions in XRP ETFs ($152 million) and Solana ETFs ($109 million) appeared for the first time in the Q4 filing. Total crypto ETF exposure stood at roughly $2.36 billion across four different assets as of year-end 2025.
Wall Street completes its crypto pivot
Solomon is not alone in his transformation. The executive suites of the largest U.S. banks have fundamentally changed their stance on Bitcoin over the past two years. JPMorgan CEO Jamie Dimon called Bitcoin a "fraud" in 2017 and a "Pet Rock" in 2024. Yet in May 2025, he announced that his bank would allow clients to purchase Bitcoin. BlackRock CEO Larry Fink, in turn, went from critic to advocate. He now manages over $57 billion through the iShares Bitcoin Trust.
Franklin Templeton, with $1.7 trillion in assets under management, is also actively involved in crypto and tokenization. CEO Jenny Johnson spoke at the World Liberty Forum. NYSE President Lynn Martin and Nasdaq CEO Adena Friedman also appeared alongside her. The convergence of the financial industry and politics at an event organized by the Trump family underscores this new dynamic.
Solomon himself is driving the transformation at Goldman Sachs through multiple channels. In January 2026, he confirmed during the Q4 earnings call that dedicated teams are working on tokenization and stablecoin technology. During the first two weeks of January, he personally met with the CEOs of two major prediction market companies. Still, he cautioned against outsized expectations. The pace of change could be slower than some experts predict.
World Liberty Forum as a crypto showcase
The World Liberty Forum brought together over 300 executives from finance, technology, and politics. World Liberty Financial, founded in October 2024 by Donald Trump and his sons, organized the event. The company launched the USD1 stablecoin in March 2025, backed by U.S. Treasuries and cash equivalents. By February 2026, USD1 reached a circulation of roughly $5 billion, making it the fifth-largest stablecoin globally.
The forum also delivered business results. Apex Group, a financial services provider with $3.5 trillion in assets under management, announced a partnership with World Liberty Financial. Specifically, USD1 will serve as the payment rail for tokenized funds. The stablecoin handles subscriptions, redemptions, and distributions. Apex further plans to offer tokenized WLFI assets on the London Stock Exchange Group's platform. The WLFI token rose about 18 percent on the day of the event to approximately $0.12.
