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Goldman Sachs
2026-08-13 10:46:12

Goldman Sachs to Buy NEOS for Up to $2.25 Billion, Adding Three Crypto Income ETFs

Goldman Sachs said Wednesday it has agreed to acquire NEOS Investments in a cash-and-equity deal worth as much as $2.25 billion, a transaction that would bring three crypto income ETFs under the bank’s umbrella. The deal is expected to close in the first quarter of 2027, pending regulatory approval and customary closing conditions. NEOS, founded in 2022, managed $30 billion across 19 options-based income ETFs as of June 30. Its crypto lineup includes the Neos Bitcoin High Income ETF (BTCI), the Boosted Bitcoin High Income ETF (XBCI), and the Ethereum High Income ETF (NEHI). None of the three holds spot bitcoin or ether directly. Instead, they buy exchange-traded products tied to those assets and write covered calls to support monthly distributions. BTCI is the largest of the group, with roughly $1.1 billion in net assets and a yield near 27%, according to Bloomberg senior ETF analyst Eric Balchunas. Goldman had previously registered its own Bitcoin Premium Income ETF with the SEC on April 14 but never launched it. Balchunas said the NEOS acquisition helps explain that dormant filing, giving Goldman an operating product rather than entering late with a similar one. The purchase would also expand Goldman’s ETF footprint after its earlier Innovator Capital Management acquisition.

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Goldman Sachs to Buy NEOS for Up to $2.25 Billion, Adding Three Crypto Income ETFs