Goldman Sachs buys Innovator for $2B, adding a Bitcoin-linked ETF to lineup
The acquisition expands Goldman’s defined-outcome ETF business and brings the bank deeper into crypto-linked investment products.
Goldman Sachs has agreed to acquire Innovator Capital Management for roughly $2 billion, bringing the issuer of defined-outcome exchange-traded funds (ETFs), including a Bitcoin structured fund, under its asset management umbrella.
The transaction, slated to close in the second quarter of 2026, will bring about $28 billion in additional assets under supervision to Goldman Sachs’ Asset Management, which reported $3.45 trillion AUS at the end of the third quarter.
Goldman said the purchase will broaden its plans for active and defined-outcome ETFs, a fund that uses options to limit losses and set how much of an asset’s gains investors can capture over a fixed period.