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Goldman Sachs leaps into bitcoin income ETFs with $2.25 billion NEOS buyout

Goldman Sachs is acquiring NEOS Investments, the firm behind BTCI, a $1.1 billion bitcoin synthetic exchange-traded fund (ETF) that yields roughly 27%, according to a senior ETF analyst at Bloomberg.

The acquisition deal in cash and equity puts NEOS at a valuation of up to $2.25 billion, is subject to performance targets and is expected to close during the first quarter of 2027 pending regulatory approval, Goldman Sachs said Wednesday in a statement detailing the agreement.

Fidelity Files to Let Its Ethereum ETF Stake and Pay Investors

Fidelity has asked the SEC for permission to turn its spot Ethereum ETF into a yield-bearing product. The Boston asset manager filed a pre-effective amendment to its registration statement on Aug. 11, adding disclosure that the Fidelity Ethereum Fund (FETH) will stake the ETH it holds.

The change would rewrite the fund's stated objective. FETH currently tracks the Fidelity Ethereum Reference Rate, adjusted for fees. With staking, its goal becomes that index plus an amount based on staking rewards. The filing says the trust is expected to outperform the index before expenses.

U.S. CPI inflation slows to 3.4% as expected, bitcoin holds near $64,000

U.S. inflation in July was in line with expectations, leaving expectations for another Federal Reserve rate hike broadly unchanged. The Consumer Price Index (CPI) rose 0.1% in July from the previous month, compared with economists’ forecast for a 0.1% increase and June’s 0.4% decline.

Bitcoin fell from $64,400 to $64,080 in a knee-jerk reaction before stabilizing, still largely flat over 24 hours. Nasdaq 100 futures traded 0.7% higher.

Bitcoin & Ethereum Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Wednesday was $46.82 million. The total net asset value of Bitcoin spot ETFs is $77.38 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 2.35%.

The Bitcoin spot ETF with the highest net outflow on Aug 12 was Fidelity Wise Origin Bitcoin Fund, with a net outflow of $46.82 million, according to SoSoValue.