U.S. investment bank Goldman Sachs (GS) is gaining access to cryptocurrency exchange-traded funds (ETFs) through its $2.25 billion U.S. purchase of Neos Investments.
The acquisition of privately held Neos Investments provides Goldman Sachs with three Bitcoin (BTC) and Ethereum (ETH) options-income ETFs.
The three crypto ETFs manage more than $1.1 billion U.S. in combined assets.
According to Goldman Sachs, the Neos deal will bring more than $30 billion U.S. in total assets under management into the Goldman Sachs Asset Management unit.
The deal is expected to close in the first quarter of 2027 subject to regulatory approvals.
Among Neos Investments’ 19 funds are the Neos Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI) and Ethereum High Income ETF (NEHI).
Those ETFs give Goldman Sachs’ crypto-linked income funds as its own proposed Bitcoin income fund ETF awaits regulatory approval.
Neos launched its BTCI ETF in October 2024 as an actively managed fund designed to combine Bitcoin-linked exposure with monthly income generated through options.
The BTCI fund had more than $1 billion U.S. of net assets as of Aug. 12, making it the largest of Neos Investments’ three crypto-focused products.
Several Wall Street firms are expanding into crypto ETFs to meet demand from clients.
In recent months, rival investment bank Morgan Stanley (MS) launched a Bitcoin ETF called the Morgan Stanley Bitcoin Trust (MSBT).
GS stock has gained 39% over the last 12 months to trade at $1,037.21 U.S. per share.
