- Goldman Sachs agreed on 12 August to acquire NEOS Investments for up to US$2.25 billion (AU$3.17 billion) in cash and equity, subject to performance and service commitments.
- The deal brings NEOS Bitcoin High Income ETF, which held just under US$1.1 billion (AU$1.55 billion) on 11 August, into Goldman Sachs Asset Management alongside 18 other options-income funds.
- Goldman’s own Bitcoin income ETF, filed in April, has had its effective date pushed back three times and has yet to commence operations.
Goldman Sachs agreed on 12 August to buy options-ETF manager NEOS Investments for up to US$2.25 billion (AU$3.17 billion) in cash and equity, handing the bank a billion-dollar Bitcoin income fund four months after filing to build one of its own.
NEOS manages US$30 billion (AU$42.3 billion) across 19 options-based income ETFs as of 30 June, three of them tied to crypto: the NEOS Bitcoin High Income ETF (BTCI), the Boosted Bitcoin High Income ETF (XBCI) and the Ethereum High Income ETF (NEHI).
The consideration is subject to the achievement of certain performance and service commitments, and Goldman expects to close in the first quarter of 2027 subject to regulatory approval.
NEOS ETF shareholders will receive proxy materials and vote on a new investment advisory agreement and on nominees to the board of trustees, the manager said, with the funds trading under their existing tickers throughout.
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