Goldman Sachs Snaps Up NEOS Investments for $2.25 Billion

Goldman Sachs has announced its acquisition of NEOS Investments in a deal valued at up to $2.25 billion. This move gives Goldman control over BTCI, a $1.1 billion Bitcoin income ETF with high monthly distributions.

BTCI uses spot bitcoin ETPs and covered-call strategies to generate these monthly distributions for investors. The fund charges a 0.99% fee and has fallen 42.55% over the past year.

The deal also expands Goldman's presence in income-focused funds, as NEOS manages about $30 billion across 19 options-based ETFs.