Goldman Sachs Sees $2 Trillion ETF Inflows as Bank of New York Mellon Takes Stake

Bank of New York Mellon Corp has acquired a new stake in Goldman Sachs Group Inc. (GS) worth approximately $2.56 billion, according to its most recent disclosure with the Securities and Exchange Commission.

The firm purchased 2,531,247 shares of the investment management company's stock in the second quarter, accounting for about 0.86% of Goldman Sachs' outstanding shares as of its latest SEC filing.

This is not an isolated incident; several other hedge funds and institutional investors have recently increased their positions in GS. Norges Bank acquired a new stake worth approximately $2.52 billion during the fourth quarter, while Corient Private Wealth LLC boosted its holdings by 1,657.7% during the same period.

Goldman Sachs has been expanding its presence in various sectors through strategic acquisitions and partnerships. The company recently agreed to acquire NEOS Investments, the issuer of income-focused ETFs, for up to $2.25 billion. This move is expected to expand Goldman's ETF and wealth-management capabilities and add recurring fee revenue.