The transaction, expected to close in the first quarter of 2027, provides Goldman with an established foothold in digital asset strategies. Central to the deal is the Neos Bitcoin High Income ETF (BTCI), which has amassed over $1 billion in assets since its October 2024 launch. By acquiring Neos, Goldman effectively bypasses the need to build its own crypto-income products from scratch, potentially leapfrogging competitors like BlackRock. Analysts suggest this move explains why Goldman’s previously filed Bitcoin Premium Income ETF has remained idle.
In section Cryptocurrency
Goldman Sachs to Acquire Neos Investments for $2.25 Billion
Goldman Sachs has agreed to purchase Neos Investments in a deal valued at up to $2.25 billion, securing a dominant position in the crypto-linked income ETF market. The acquisition brings over $30 billion in assets under management into the bank’s portfolio, including three prominent Bitcoin and Ethereum options-income funds.
Beyond BTCI, the acquisition includes the Boosted Bitcoin High Income ETF (XBCI) and the Ethereum High Income ETF (NEHI). These funds utilize options-based strategies to generate monthly income rather than holding the underlying cryptocurrencies directly. The deal follows Goldman’s $2 billion purchase of Innovator Capital Management earlier this year, signaling a broader strategy to scale its active ETF business. Neos co-founders Troy Cates and Garrett Paolella are slated to join Goldman Sachs Asset Management as partners upon the completion of the merger.
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