Goldman Sachs To Acquire NEOS Investments In $2.25B Deal

The deal gives the bank a ready-made foothold in Bitcoin-income ETFs space.

Goldman Sachs has agreed to acquire NEOS Investments in a deal worth up to $2.25 billion that will give the Wall Street giant another Bitcoin-related product for its portfolio, the banking giant announced Wednesday.

JUST IN: Goldman Sachs acquires NEOS, including $1 billion in their Bitcoin High Income ETFs 🤯 pic.twitter.com/hYmCBEDV20

The deal will be in cash and equity, contingent on performance and service milestones, and will bring the Neos Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI) and Ethereum High Income ETF (NEHI) under Goldman Sachs Asset Management.

CEO David Solomon called NEOS’s approach “highly complementary” to Goldman’s existing buffer, managed-outcome and income capabilities.