Neos Bitcoin High Income ETF (BTCI)
BATS BATS Primary Summary
It's Not Quite Bitcoin: Analyzing The Structure And Risks Of BTCI
BTCI offers a unique structure, blending 20% Bitcoin exposure with 80% US Treasury bonds and options strategies. BTCI aims for high, stable income (38.38% yield), but limits upside in strong Bitcoin bull markets due to its covered call approach. BTCI's performance outpaces similar ETFs in 2025, yet its dividend yield trails competitors like YBTC and YBIT, and recent payouts are declining.
BTCI: Collecting Income From Bitcoin's Uncertainty
NEOS Bitcoin High Income ETF offers direct Bitcoin exposure with an option-writing strategy to generate high monthly income, currently yielding about 28.3%. BTCI is best suited for investors seeking to harness Bitcoin's volatility for income, rather than those aiming for maximum upside from BTC appreciation. BTCI's performance will likely lag Bitcoin in strong rallies but can outperform during choppy or flat markets due to steady payouts from its options strategy.
BTCI: Monetizing Bitcoin's Gains
NEOS Bitcoin High Income ETF offers high monthly income via synthetic covered calls on Bitcoin, but lacks principal protection typical of income funds. BTCI has delivered a strong yield (about 29% forward) and positive total returns in its first year, benefiting from a bullish Bitcoin environment. The fund's structure limits upside participation and exposes investors to significant downside risk if Bitcoin enters a prolonged bear market.
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Neos Bitcoin High Income ETF Profile
| BATS Exchange | US Country |
Overview
The fund described is an actively-managed Exchange-Traded Fund (ETF) with a primary goal of achieving its investment objectives through a two-fold strategy. Initially, the fund focuses on investments in one or more ETFs that aim to mirror the performance of the Russell 2000® Index, a renowned small-cap stock index representing approximately the smallest 2000 stocks in the Russell 3000 Index. It encompasses a comprehensive portfolio of stocks that are part of the Russell 2000® Index or a combination that aligns with it. Furthermore, this fund employs a call options strategy, focusing on generating high monthly income. This is primarily achieved by writing (or selling) call options on the Russell 2000®, thereby leveraging the underlying securities' volatility and market movements to provide returns to the investors. This innovative approach combines direct index investment with an options strategy, aiming to offer investors both growth through index tracking and income through options premiums.
Products and Services
The fund focuses on the following primary products and services:
- Investment in ETFs Tracking the Russell 2000® Index: The fund invests in one or more ETFs that are designed to follow the performance of the Russell 2000® Index, which is comprised of small-cap companies. This allows investors to diversify their portfolios and participate in the potential growth of these companies.
- Direct Investment in Russell 2000® Index Stocks: Besides ETFs, the fund may also directly invest in the portfolio of stocks making up the Russell 2000® Index. This direct investment approach aims to closely mimic the index's performance, offering an opportunity for the fund to benefit directly from the performance of the stocks within the Russell 2000®.
- Call Options Strategy for High Monthly Income: A significant portion of the fund's strategy involves writing (selling) call options on the Russell 2000® Index. This approach is designed to generate high monthly income for the fund. By selling call options, the fund collects premium payments from buyers of these options, which can provide a steady income stream regardless of the market conditions. This strategy leverages the volatility and price movements of the small-cap market to produce income, adding an income-generating layer to the fund's portfolio in addition to potential capital gains from index tracking.
Contact Information
