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Goldman to acquire Neos Investments in up to $2.25 billion ETF deal

Goldman’s second major ETF acquisition of the year hinges on securing proxy votes from Neos shareholders to complete the required change of control.

Reported · Written up by our desk · ETFs

ETF Prime, hosted by Nate Geraci, discussed Goldman Sachs’ agreement to acquire Neos Investments for up to $2.25 billion, positioning it as the bank’s second major ETF deal of the year after its earlier acquisition of Innovator ETFs. Neos launched its first ETF four years ago and has grown to more than $30 billion in assets, according to the show. A key integration hurdle, per ETF Action’s Mike Akins, will be securing proxy votes from Neos shareholders to approve the change of control needed to close the acquisition. ETF Prime also touched on concerns about speculative products housed in regulated ETF wrappers, with Akins criticizing Volatility Shares’ filing for National Hockey League futures contract ETFs as gambling vehicles in investment clothing. The discussion cited survey results from Betterment showing 52% of Gen Z investors have pulled money from investment accounts to fund sports betting. Akins also argued that negative roll yield in these types of products could make the United States Oil Fund, USO, look relatively mild.

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