Goldman Sachs Snags NEOS Investments in $2.25B Crypto Play

Goldman Sachs is set to acquire NEOS Investments in a deal worth up to $2.25 billion, expanding its portfolio of Bitcoin-related products.

The agreement will bring under Goldman's umbrella the Neos Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI) and Ethereum High Income ETF (NEHI), which use options strategies to generate monthly income.

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

The deal will push Goldman's active ETF business to about $80 billion, making it the eighth-largest active ETF manager, according to Morningstar, inside a broader $130 billion ETF platform.