Goldman Sachs Lands NEOS Investments for $2.25 Billion

Goldman Sachs is expanding its presence in the ETF market by acquiring NEOS Investments for up to $2.25 billion.

The deal includes NEOS' $30 billion ETF business, which features Bitcoin- and Ether-linked income funds using options-based strategies.

NEOS co-founders Troy Cates and Garrett Paolella, along with the firm's broader team, will join Goldman Sachs Asset Management after the acquisition is completed in the first quarter of 2027, pending regulatory approval.

This deal marks Goldman's second major ETF acquisition this year, following its purchase of Innovator Capital Management. The combined assets under management for Goldman's global ETF platform would reach approximately $130 billion, making it the eighth-largest active ETF manager globally.