- Goldman Sachs has agreed to amass Neos Investments for as much as $2.25 billion, including three crypto-focused options-income ETFs to its asset administration enterprise.
- The acquisition contains Bitcoin and Ethereum earnings ETFs with greater than $1.18 billion in mixed internet belongings.
- The deal considerably expands Goldman’s energetic ETF enterprise as demand for options-based earnings methods continues to develop.
Goldman Sachs is making one other important transfer into crypto-linked funding merchandise via its deliberate acquisition of Neos Investments, an asset supervisor specializing in options-based exchange-traded funds.
Goldman has agreed to amass Neos for as a lot as $2.25 billion in money and fairness, with parts of the consideration tied to efficiency and repair commitments. The transaction is anticipated to shut throughout the first quarter of 2027, assuming regulatory approval and different customary circumstances are glad.
The acquisition will convey three crypto-focused merchandise into Goldman Sachs Asset Administration: the Neos Bitcoin Excessive Earnings ETF (BTCI), Boosted Bitcoin Excessive Earnings ETF (XBCI) and Ethereum Excessive Earnings ETF (NEHI).
Goldman Beneficial properties Three Crypto Earnings ETFs
The three funds present publicity to Bitcoin or Ethereum whereas utilizing choices methods designed to generate month-to-month earnings.
Importantly, the ETFs don’t instantly maintain BTC or ETH. As a substitute, they acquire publicity via exchange-traded merchandise linked to the underlying cryptocurrencies and mix these positions with choices methods.
BTCI is well the most important of the three. Launched in October 2024, the Bitcoin-focused fund has grown to greater than $1 billion in internet belongings.
XBCI, which launched in February, manages roughly $111 million, whereas the Ethereum-focused NEHI has accrued greater than $77 million since launching in December 2025.
Mixed, the three merchandise symbolize greater than $1.18 billion in crypto-linked ETF belongings that might finally grow to be a part of Goldman’s increasing funding platform.
Neos Provides Goldman an Established Bitcoin ETF Enterprise
The acquisition might additionally affect Goldman’s current plans for its personal Bitcoin earnings ETF.
Goldman filed for a Bitcoin Premium Earnings ETF in April, however the product has but to launch. Bloomberg senior ETF analyst Eric Balchunas advised the Neos acquisition might assist clarify the delay, as shopping for BTCI offers Goldman speedy entry to a longtime fund with greater than $1 billion in belongings.
That might permit Goldman to rapidly strengthen its place within the rising Bitcoin earnings ETF market without having to construct a wholly new product from the bottom up.
Goldman has not confirmed whether or not the Neos acquisition will change its plans for the beforehand filed Bitcoin ETF.
Goldman Targets Rising Demand for Choices Earnings
Neos was based in 2022 and has quickly grown into a considerable participant inside the options-based ETF market. The corporate at the moment manages greater than $30 billion throughout 19 income-focused ETFs.
Its methods cowl a number of main asset lessons, together with U.S. inventory indexes, gold, Bitcoin and Ethereum. The widespread theme is utilizing choices to doubtlessly generate recurring month-to-month earnings whereas sustaining publicity to the underlying funding theme.
Goldman CEO David Solomon stated Neos’ method enhances the agency’s current capabilities throughout managed-outcome, buffer and earnings funding methods.
The timing is critical. Spinoff-income ETFs have expanded to roughly $180 billion in industry-wide belongings, in line with Goldman, with the class recording compound annual development of greater than 70% since 2021.
Goldman Continues Constructing Its ETF Empire
The Neos settlement follows Goldman’s roughly $2 billion acquisition of Innovator Capital Administration, which closed in April.
Innovator makes a speciality of ETFs that use choices to handle draw back threat whereas offering alternatives for earnings and funding features. Including Neos would additional strengthen Goldman on this quickly increasing section of the ETF {industry}.
Goldman, Innovator and Neos collectively managed greater than $130 billion throughout their international ETF platforms as of June 30. The mixed operation would come with roughly $80 billion in energetic ETFs, doubtlessly making Goldman the eighth-largest energetic ETF supplier.
For Goldman’s crypto technique, the acquisition gives one thing significantly useful: established Bitcoin and Ethereum funding merchandise with current buyers and substantial belongings already beneath administration.
As soon as accomplished, the deal will even convey Neos co-founders Troy Cates and Garrett Paolella into Goldman Sachs Asset Administration as companions, alongside the agency’s broader funding and client-service groups.
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