A major Wall Street player just made a bold move into the ETF space. In a deal combining cash and equity, one of the world's leading investment banks is acquiring Innovator Capital Management for roughly $2 billion. The transaction marks a significant push into what's become one of the hottest segments in asset management right now. With ETFs continuing to pull in massive capital flows, this acquisition signals how traditional finance giants are scrambling to secure their position in this rapidly expanding market. The deal structure blends immediate liquidity with long-term alignment, keeping Innovator's team invested in the combined entity's success.