Neos Bitcoin High Income ETF (BTCI)
BATS BATS Primary 
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.
BTCI: Bitcoin Exposure, 30% Yield
NEOS Bitcoin High Income ETF offers Bitcoin exposure with high income via a covered call strategy, currently yielding around 30%. BTCI generates monthly dividends by selling call options on Bitcoin, providing regular income but with variable payouts due to Bitcoin's volatility. The ETF holds Bitcoin through the VanEck Bitcoin ETF and synthetic positions, investing surplus cash in treasuries for additional yield.
VIDEO: ETF of the Week: BTCI
On this episode of the ETF of the Week podcast, VettaFi's head of research Todd Rosenbluth discussed the NEOS Bitcoin High Income ETF (BTCI) with Chuck Jaffe of Money Life. The pair discussed several topics related to the fund to give investors a deeper understanding of the ETF overall.
BTCI: An Income Stream For Bitcoin Bulls
BTCI offers a unique way to earn monthly income from Bitcoin's volatility, providing over 25% annualized yield while maintaining exposure to Bitcoin's price movements. The ETF uses a covered call strategy, trading Bitcoin ETPs and selling call options to generate high yields, though this caps upside during strong rallies. BTCI is ideal for income-focused Bitcoin investors willing to trade some growth for steady cash flow, but it carries risks tied to Bitcoin's price and volatility.
ETF of the Week: NEOS Bitcoin High Income ETF (BTCI)
VettaFi's Head of Research Todd Rosenbluth discussed the NEOS Bitcoin High Income ETF (BTCI) on this week's “ETF of the Week” podcast with Chuck Jaffe of “Money Life.” For more news, information, and analysis, visit the Tax Efficient Income Content Hub.
Unlock a 22% Yield With This Bitcoin-Powered Covered Call ETF
Key Points in This Article: Covered call ETFs generate high yields by selling call options, but differ from traditional ETFs by capping upside potential in exchange for premium income.
BTCI: Squeezing ~30% Distribution Yield From Bitcoin
BTCI offers high monthly 'income' by writing call options on Bitcoin futures but carries significant risk due to Bitcoin's volatility. The strong performance of Bitcoin and high 30%+ distribution yield has attracted relatively strong investor interest, with AUM rising quickly. While BTCI has outperformed traditional assets by a wide margin, its options strategy can cap upside and lead to underperformance versus pure Bitcoin ETFs in strong rallies.
BTCI: $100K Sticky Bitcoin Level May Benefit Option Sellers
BTCI offers high yield by selling Bitcoin options, but these distributions are a return of capital rather than true income and may erode principal over time. BTCI outperforms in flat Bitcoin markets due to its premium income, but underperforms during sharp rallies and carries a similar downside risk to holding Bitcoin directly. I suspect Bitcoin's price may remain range-bound near $100K due to the behavioral and emotional weight of this price level, creating resistance above $110K and support below $90K.
BTCI: Earning Yields From Bitcoin Without A Bull Thesis
BTCI lets you earn monthly income from Bitcoin exposure without needing a bullish thesis, using covered call and spread strategies on partial spot and synthetic holdings. Holds ~25% in spot Bitcoin ETP and remaining in futures/synthetic positions for tax efficiency and simplified 1099 filing—no K-1s, and capital gains are internally handled. Upside is only partially capped via call spreads, and BTCI offers some drawdown protection and lower volatility, suitable for neutral-to-mildly-bearish market views.
NEOS Expands Alternatives Suite With Gold Income ETF
NEOS Investments continues to expand their income ETF suite this year, offering investors exposure to a range of core asset classes with enhanced income. The latest fund, the NEOS Gold High Income ETF (IAUI), seeks to combine physical gold exposure with elevated monthly income.
