Goldman Sachs Buys Crypto Income Play with NEOS Acquisition

Goldman Sachs is acquiring NEOS Investments in an estimated $2.25 billion deal, giving it a foothold in crypto-linked income products.

The acquisition brings four ETFs from NEOS under Goldman's umbrella: the Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI), Ethereum High Income ETF (NEHI), and 19 options-based income ETFs with around $30 billion in assets.

Goldman Sachs' CEO David Solomon described NEOS's approach as 'highly complementary' to its existing buffer, managed-outcome, and income capabilities.

The deal is contingent on performance and service milestones and will push Goldman's active ETF business to about $80 billion inside a broader $130 billion ETF platform.