Goldman Sachs buys NEOS in $2.25B bitcoin ETF deal

Goldman Sachs agreed to acquire NEOS Investments, manager of the $1.1 billion BTCI bitcoin synthetic ETF, in a cash-and-equity deal valuing NEOS at up to $2.25 billion. Closing is expected in early 2027 pending regulatory approval. BTCI yields about 27% but is down roughly 43% over the past year.