Goldman Sachs To Acquire NEOS Investments In $2.25B Deal

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Goldman Sachs has agreed to acquire NEOS Investments in a deal worth up to $2.25 billion that will give the Wall Street giant another Bitcoin-related product for its portfolio, the banking giant announced Wednesday.

The deal will be in cash and equity, contingent on performance and service milestones, and will bring the Neos Bitcoin High Income ETF (BTCI), Boosted Bitcoin High Income ETF (XBCI) and Ethereum High Income ETF (NEHI) under Goldman Sachs Asset Management.

CEO David Solomon called NEOS’s approach “highly complementary” to Goldman’s existing buffer, managed-outcome and income capabilities.

NEOS co-founders Garrett Paolella and Troy Cates, who will…