Goldman Sachs announced on August 12 the acquisition of NEOS Investments for $2.25 billion to enter the Bitcoin income products market. The deal, structured as a mix of cash and equity with performance-based contingencies, will add approximately $30 billion in active income ETFs to Goldman Sachs Asset Management, including $1.1 billion across three crypto income ETFs. The flagship product is the NEOS Bitcoin High Income ETF (BTCI), targeting an annualized yield of around 27% through covered-call strategies on spot Bitcoin ETPs. The transaction is expected to close in Q1 2027, pending regulatory approval. This acquisition is part of a broader strategy, as Goldman Sachs has now spent over $4 billion on ETF acquisitions in under a year.
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