Investment bank Goldman Sachs has announced a deal to purchase an exchange-traded fund provider, NEOS Investments. The amount of this large-scale agreement is about two and a quarter billion dollars. The deal is expected to be fully closed in the first quarter, subject to receipt of all necessary approvals from relevant regulators. Thanks to this strategic acquisition, the bank's total capital under management will exceed one hundred and thirty billion dollars. This step will allow Goldman Sachs to become the eighth largest provider of exchange-traded funds in the world. NEOS Investments specializes in the management of income funds based on option contracts and controls nineteen ETFs with total assets of thirty billion dollars.

As a result of the merger, three specialized cryptocurrency funds will come under the control of Goldman Sachs. These include the Neos Bitcoin High Income ETF, Boosted Bitcoin High Income ETF, and Ethereum High Income ETF. These funds actively use option strategies to generate stable monthly income for unit holders. They sell covered call options, which allows them to receive an additional premium and at the same time hedge market risks. The largest of these three products is the BTCI fund, which already has over one billion dollars in assets under management. David Solomon, Chairman and CEO of Goldman Sachs, noted that NEOS' disciplined approach perfectly complements the bank's revenue strategy capabilities amid growing investor demand.

It is noteworthy that earlier Goldman Sachs independently applied to launch its own product called Bitcoin Premium Income ETF. Eric Balcunas, an analyst at Bloomberg Intelligence, is confident that the purchase of NEOS Investments was the main reason for the bank's refusal to develop its own product line. According to the expert, this deal will allow Goldman Sachs to quickly bypass similar positions of competitors, including similar funds from BlackRock.