Goldman Sachs to Acquire NEOS for Up to $2.25 Billion, Adding Bitcoin Income ETF BTCI
Summary
- Goldman Sachs said it agreed to acquire options-based ETF manager NEOS Investments for up to $2.25 billion.
- NEOS manages 19 options-based income ETFs with about $30 billion in assets.
- The acquisition will give Goldman Sachs the NEOS Bitcoin High Income ETF (BTCI), a Bitcoin income ETF with about $1 billion in assets.
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Goldman Sachs will acquire options-based exchange-traded fund manager NEOS Investments, according to Bloomberg ETF analyst Eric Balchunas on August 12.
Goldman Sachs said it agreed to buy NEOS for up to $2.25 billion in cash and stock. As of the end of June, NEOS managed 19 options-based income ETFs with about $30 billion in assets. The deal is set to close in the first quarter of next year, pending regulatory approval.
The acquisition will also give Goldman Sachs the NEOS Bitcoin High Income ETF (BTCI), a Bitcoin income ETF with about $1 billion in assets.
Balchunas wrote that the deal now explains why Goldman Sachs did not launch the Bitcoin covered-call product it had filed for several months earlier.
JH Kim
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