Is the crypto world really getting worse by the day? Have the institutions all pulled out?

Goldman Sachs has released its latest quarterly holdings report submitted to the US SEC for Q1 2026, showing that crypto ETFs have been cut sharply.
Not only have all $XRP -related ETFs been fully liquidated, but the $SOL -related ETFs from Grayscale, Bitwise, and Fidelity have also been sold off completely.
Altcoins are too risky, so they’ve been given up on directly.
Confidence in $ETH has also dropped at a rapid pace: there’s a pileup of issues around Ethereum staking, upgrades, and regulation. The market fell hard this quarter—Goldman Sachs cleared out 70% of its position outright, leaving just a little bit to keep an eye on things, worth $114 million.
The $BTC ETFs are still holding BlackRock’s IBIT (about $690 million) and Fidelity’s FBTC ($25 million), but both are down by roughly 10% compared with the previous quarter.
What’s interesting is that while crypto ETFs are being reduced, they’re adding to holdings in platform stocks like Circle, Coinbase, and PayPal—while mining-related stocks are actually being cut.
Cutting mining stocks is probably because mining companies (Riot, Strategy) are extremely dependent on coin prices: once the coin drops, they take massive losses, so they sell too.