Goldman Sachs Set to Acquire NEOS Investments for Up to $2.25 Billion

Goldman Sachs is set to acquire options-based ETF manager NEOS Investments for up to $2.25 billion, expanding its presence in the financial markets. The deal includes the acquisition of 19 options-based income ETFs managed by NEOS, with approximately $30 billion in assets.

The NEOS Bitcoin High Income ETF (BTCI), a Bitcoin income ETF with around $1 billion in assets, will also be transferred to Goldman Sachs as part of the agreement. The acquisition is expected to close in the first quarter of next year, subject to regulatory approval.

According to Bloomberg's ETF analyst Eric Balchunas, the deal explains why Goldman Sachs did not launch a Bitcoin covered-call product it had filed for several months earlier.