Goldman Sachs has agreed to acquire ETF manager Neos Investments for up to $2.25 billion.

Cointelegraph reported on Aug. 12 that once the acquisition is completed, Goldman Sachs' asset management division will secure Neos' $30 billion ETF business, including bitcoin and ethereum-linked income products.

Neos manages $30 billion across 19 options-based income ETFs. Its main products are the Bitcoin High Income ETF (BTCI), the Boosted Bitcoin High Income ETF (XBCI) and the Ethereum High Income ETF (NEHI). The products are designed to track bitcoin or ether prices and generate monthly income through options strategies.

The deal is expected to close in the first quarter of 2027, subject to regulatory approval. Neos co-founders Troy Kates (트로이 케이츠) and Garrett Paolella (개럿 파올레야), along with company staff, will join Goldman Sachs' asset management division.

Goldman Sachs said that combining its recent acquisition of Innovator Capital Management with this deal would increase assets on its global ETF platform to about $130 billion. That would also lift its ranking among active ETF managers to eighth.

Bloomberg ETF analyst Eric Balchunas (에릭 발추나스) said Neos has grown quickly since it was founded in 2022. He described the deal as shocking, citing Goldman Sachs' back-to-back acquisitions of Neos following Innovator.