Goldman Sachs to Acquire NEOS Investments in $2.25B Deal, Adding Bitcoin Income ETFs to Lineup
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Goldman Sachs agreed to acquire NEOS Investments for up to $2.25 billion, bringing NEOS’s Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI), Ethereum High Income ETF (NEHI) and roughly $30 billion in assets across 19 options-based income ETFs into Goldman Sachs Asset Management; the cash-and-equity deal is expected to close in Q1 2027 pending regulatory approval. The acquisition pushes Goldman’s income-oriented ETF business toward about $80 billion inside a $130 billion ETF platform and gives the bank a ready-made foothold in crypto-linked, derivatives-based income products that generate yields by selling options premium rather than holding spot Bitcoin, signaling increased institutional adoption of crypto ETFs and derivative income strategies.
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Goldman Sachs to Acquire NEOS Investments in $2.25B Deal, Adding Bitcoin Income ETFs to Lineup
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
— Bitcoin Magazine (@BitcoinMagazine) August 12, 2026pic.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.
NEOS co-founders Garrett Paolella and Troy Cates, who will join Goldman Sachs Asset Management as partners, framed the deal as pairing NEOS’s “entrepreneurial spirit” with Goldman’s scale.
NEOS manages roughly $30 billion across 19 ETFs that use options strategies to generate monthly income.
Combined with Goldman Sachs Asset Management’s existing $40 billion in income-oriented, options-based ETFs, the deal will push Goldman’s active ETF business to about $80 billion — making it the eighth-largest active ETF manager, according to Morningstar — inside a broader $130 billion ETF platform.
The move follows Goldman’s earlier acquisition of Innovator Capital Management, rounding out a three-way combination focused on derivative-income and buffer/outcome strategies.
The Bitcoin ETFs in question don’t hold the cryptocurrency directly, rather they use derivatives to generate income from crypto-linked exposure rather than owning the underlying coins, per NEOS’s disclosures.
Therefore, the high headline yields come largely from selling options premium, not necessarily reflecting the price performance of Bitcoin itself.
The acquisition effectively hands Goldman Sachs a ready-made foothold in crypto-income ETFs — a corner of the market it hadn’t built organically — right as institutional appetite for digital-asset-adjacent, income-generating products continues to grow alongside the broader derivative-income boom.
The transaction is expected to close in the first quarter of 2027, pending regulatory approval.
This post Goldman Sachs to Acquire NEOS Investments in $2.25B Deal, Adding Bitcoin Income ETFs to Lineup first appeared on Bitcoin Magazine and is written by Mathew Di Salvo.
