Goldman Sachs (NYSE:GS) agreed to acquire NEOS Investments for up to $2.25 billion Wednesday, picking up a $1 billion Bitcoin income ETF that could leapfrog BlackRock (NYSE:BLK).
What Is Goldman Actually Getting From the NEOS Deal?
According to a Goldman Sachs press release, the deal brings three crypto funds under Goldman Sachs Asset Management: the NEOS Bitcoin High Income ETF (CBOE: BTCI), the Boosted Bitcoin High Income ETF (NASDAQ:XBCI), and the Ethereum High Income ETF (CBOE: NEHI).
None of the three funds hold Bitcoin (CRYPTO: BTC) or Ethereum (CRYPTO: ETH) directly.
They gain exposure through exchange-traded products linked to the assets and use options strategies to generate monthly income.
