Goldman Sachs acquires NEOS Investments for $2.25B to expand Bitcoin ETF business

Published Aug 13, 02:30 PM UTC

Goldman Sachs has agreed to acquire NEOS Investments, the asset manager behind the $1.1 billion Bitcoin High Income ETF (BTCI), in a cash-and-stock deal valued at up to $2.25 billion. NEOS manages approximately $30 billion across 19 options-based ETFs. The acquisition is expected to boost Goldman's active ETF assets to roughly $80 billion and total ETF assets under supervision to over $130 billion. BTCI does not hold Bitcoin directly but invests in spot Bitcoin exchange-traded products and uses covered-call strategies to generate monthly income, putting Goldman in competition with BlackRock's Bitcoin income-focused ETF. Industry observers note the deal signals Wall Street's move beyond simple Bitcoin exposure toward structured investment products that generate income from Bitcoin's volatility. The announcement comes as Bitcoin trades around $64,000 following a cooler-than-expected US producer price index reading, with Bitcoin ETFs attracting over $850 million in inflows since the start of the third quarter.