BTCI Monthly Payouts Shrink to $0.65, Slashing Forward Yield to 8%

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โดย Yahoo Finance·Read original
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The NEOS Bitcoin High Income ETF's monthly distribution fell from $1.04 in January 2026 to $0.65 in June, cutting the forward yield to roughly 8% versus a misleading trailing headline yield above 40%. The fund holds about 56% of assets in U.S. Treasury bills and gains Bitcoin exposure through positions in iShares Bitcoin Trust and VanEck's HODL, while selling call options on Bitcoin ETFs to generate income. Bitcoin's price decline and compressed crypto-linked implied volatility have steadily reduced option premiums, driving the payout compression. BTCI is down 23% year to date and has delivered an average annual return of negative 2% since its October 2024 inception, cushioning Bitcoin losses but still producing negative total returns. Analysts note the high yield is primarily a return of capital, not investment income, and the distribution is likely to continue resetting lower as Bitcoin volatility normalizes.

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