Goldman Sachs Acquires NEOS for $2.25 Billion
Goldman Sachs has made a significant move in the ETF market by acquiring NEOS, an options-based income ETF provider. The deal is worth $2.25 billion and will give Goldman access to a wide range of income-generating strategies. According to The Block, BTCI, launched in October 2024, is the largest with over $1 billion in net assets.
NEOS manages $30 billion across 19 options-based income ETFs in total. The deal will combine Goldman's existing ETF business and its earlier acquisition of Innovator Capital Management, making Goldman the eighth-largest active ETF provider with $130 billion in global ETF assets.
Bloomberg senior ETF analyst Eric Balchunas noted that this deal may explain why Goldman never launched the Bitcoin Premium Income ETF it filed for in April. The new BTCI could help Goldman leapfrog BlackRock's iShares Bitcoin Premium Income ETF, which currently holds about $59 million in net assets.