Goldman Sachs acquires NEOS Investments

Goldman Sachs agreed to acquire NEOS Investments, a provider of options-based income ETFs, for up to $2.25 billion in cash and equity. The deal, expected to close in Q1 2027, will add about $30 billion in assets under management, including three crypto income ETFs (BTCI, XBCI, NEHI) with over $1.1 billion combined. This is Goldman's second multibillion-dollar ETF acquisition in nine months, following its purchase of Innovator Capital Management. The combined ETF platform will manage over $130 billion, making Goldman the eighth-largest active ETF provider. NEOS co-founders Garrett Paolella and Troy Cates will join Goldman as partners. The acquisition strengthens Goldman's position in the rapidly growing derivative income ETF market, which has reached about $180 billion in assets.