Goldman buying NEOS for $2.25B — picking up $30B in ETF assets including $BTC and $ETH exposure.
Trad-fi banks went from "crypto is rat poison" to acquiring crypto ETF providers in less than 5 years. The pivot is real.
This isn't just about AUM. It's about distribution. Goldman now controls shelf space for crypto exposure inside brokerage accounts, 401(k)s, and RIAs.
ETF flows = the new battleground. Whoever owns the wrapper owns the customer.
Trad-fi banks went from "crypto is rat poison" to acquiring crypto ETF providers in less than 5 years. The pivot is real.
This isn't just about AUM. It's about distribution. Goldman now controls shelf space for crypto exposure inside brokerage accounts, 401(k)s, and RIAs.
ETF flows = the new battleground. Whoever owns the wrapper owns the customer.