Financial giant Goldman Sachs has announced its agreement to acquire Innovator Capital Management, a firm specializing in defined-outcome ETFs, for approximately $2 billion. This strategic move will integrate Innovator’s expertise into Goldman Sachs’ asset management division, expanding their offerings of active and defined-outcome exchange-traded funds (ETFs). The acquisition is expected to finalize by the second quarter of 2026, adding roughly $28 billion in assets under supervision to Goldman Sachs Asset Management which reported $3.45 trillion in assets at the end of Q3. Innovator’s defined-outcome strategy, utilizing options to manage risk and limit potential losses, has been a key driver behind its success. Their QBF ETF, launched in February, leverages FLEX options linked to Bitcoin ETFs or the Cboe Bitcoin US ETF Index to capture gains while capping quarterly losses at 20%. This fund boasts a high participation rate of 71%, designed to capture 71% of any positive Bitcoin price movement during the period. As of Friday, QBF held approximately $19.3 million in market value. 2020 marked a turning point for Goldman Sachs’ stance on cryptocurrencies; previously deemed unsuitable for client portfolios, the bank has since become more optimistic about blockchain technology and the future of digital assets.