Goldman Sachs acquires NEOS for $2.25 billion, gains Bitcoin ETF.

Goldman Sachs announced a $2.25 billion cash‑and‑equity deal to acquire NEOS Global Asset Management, adding the firm’s roughly $1 billion Bitcoin covered‑call fund to its product lineup. The transaction gives Goldman instant access to a growing niche of crypto‑focused exchange‑traded funds that combine Bitcoin exposure with options‑generated income.

The move follows a surge in demand for regulated Bitcoin products and a wave of institutional investors looking for safer, income‑producing alternatives to direct crypto ownership. NEOS’s fund, which sells covered call options on Bitcoin, has attracted more than 5,000 investors and generated about 12 % annualized returns last year. By buying NEOS, Goldman can tap into this high‑growth segment without building a new platform from scratch.

Goldman’s CEO said the acquisition aligns with the bank’s strategy to deepen its crypto footprint. The firm already launched a Bitcoin spot ETF and a Bitcoin futures ETF in the U.S. last year, but its crypto offerings were limited to a few index products. The NEOS deal expands the bank’s range to include option‑based strategies, appealing to investors who want upside exposure while limiting downside risk.

The next steps involve integrating NEOS’s fund into Goldman’s distribution network and regulatory approvals. The bank plans to rebrand the product under its own name by Q3 2026, with a projected launch of a new Bitcoin covered‑call ETF that could attract millions in assets under management. If successful, the deal could accelerate the adoption of crypto‑based income funds across the market and position Goldman as a key player in the evolving digital‑asset landscape.