Goldman Sachs Shifts ETF Accelerator Platform to Tidal

Ironically, Goldman Sachs’ ETF Accelerator is slowing down.

Just two years after its debut, Goldman Sachs is winding down its ETF Accelerator — a platform that helps institutional clients and asset managers launch, list, and manage ETFs — and transferring service responsibilities of trusts that house roughly $5 billion worth of funds to Tidal Financial Group. In December, media outlets reported that Goldman was potentially seeking a sale of the platform, which is separate from its ETF business. 

“We have spent the past few months working with the independent trust to determine the best path forward for our ETF Accelerator business and collectively decided that moving the platform to Tidal was the best long-term solution for our clients and the continued success of their funds,” said Nick Carcaterra, a Goldman Sachs spokesperson.

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Tidal is expected to take over trade-execution support and compliance services for the 2023 ETF Series Trust and the 2023 ETF Series Trust II — white label platforms that also help asset managers launch ETFs. However, final agreement to transfer the trusts to Tidal is still pending board approval, according to a press release. The trusts contain six funds each:

• The Series Trust houses ETFs from asset managers such as Eagle Capital, Brandes, and Pacific. It also contains the Atlas America Fund, an active ETF, partly managed by renowned economist Dr. Nouriel Roubini.
• Series Trust II houses funds only from asset manager GMO, including its U.S. Quality ETF, Beyond China ETF, and Systematic Investment Grade Credit ETF.

“Our priority is to offer an institutional-level trust platform with optionality among multiple service providers,” said Robert Howard, chairman of the board of the trusts, adding that Tidal brings the expertise and scale the company was looking for in a long-term partner.”