Goldman Sachs Acquires NEOS Investments for $2.25 Billion to Expand Bitcoin ETF Offerings

Goldman Sachs has agreed to acquire NEOS Investments for up to $2.25 billion, significantly enhancing its position in the Bitcoin yield market. The deal, which includes NEOS’ $30 billion options-income ETF platform, was announced on August 12 and is expected to close in the first quarter of 2027, pending regulatory approval.

This acquisition will expand Goldman Sachs Asset Management’s existing $40 billion income and outcome-oriented options ETF business, potentially lifting its global ETF platform to approximately $130 billion when combined with NEOS and Innovator Capital Management.

Among the funds included in the acquisition is the NEOS Bitcoin High Income ETF (BTCI), which had $1.10 billion in net assets as of August 11. BTCI offers investors exposure to Bitcoin without direct ownership, utilizing an options strategy to generate monthly income through writing calls.

Goldman Sachs CEO David Solomon noted that the addition of NEOS complements the firm’s existing strategies as demand for active ETFs continues to grow. The broader derivative-income ETF market has seen substantial growth, expanding to about $180 billion with an annualized growth rate exceeding 70% since 2021.

With this acquisition, Goldman Sachs is positioned to leapfrog BlackRock’s recently launched iShares Bitcoin Premium Income ETF, which manages around $60 million in assets, giving Goldman a significant advantage in the Bitcoin income fund sector.