Goldman Sachs Buys NEOS for $2.25 Billion Crypto Play

Goldman Sachs has agreed to acquire NEOS Investments for up to $2.25 billion in cash and equity, expanding its range of derivative-based ETF solutions and strengthening its position in the active ETF market.

NEOS manages about $30 billion across 19 options-based income ETFs as of June 30, 2026, and its products will join Goldman Sachs Asset Management upon completion of the deal.

The acquisition includes NEOS' Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI), and Ethereum High Income ETF (NEHI), which offer a monthly income stream plus exposure to Bitcoin and Ether.

Goldman Sachs sees the growing ETF income market as an opportunity, with derivative-income ETFs holding operations of about $180 billion in assets under management.