NEOS ETF
BTCI Dividend: Next Ex-Date, History & Total Return
NEOS Bitcoin High Income ETF
- Price
- $33.07
- Trailing 12-month yield
- 30.6%
- Recent payout yield
- 25.6%
- Next ex-date
- Oct 21, 2026
- Scheduled
52-week range $26.86–$58.60 · -43.6% over 12 months · Data as of Oct 14, 2026
Next BTCI Dividend
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BTCI Dividend History
24 distributions since Oct 23, 2024 · trailing 12-month total $10.14/share (30.6% of current price)
Distributions are down 53% vs a year ago ($0.6644 vs $1.43 avg per payment)
| Ex-dividend date | Pay date | Amount per share |
|---|---|---|
| Sep 16, 2026 | Sep 18, 2026 | $0.7184 |
| Aug 19, 2026 | Aug 21, 2026 | $0.6289 |
| Jul 22, 2026 | Jul 24, 2026 | $0.6458 |
| Jun 16, 2026 | Jun 18, 2026 | $0.6525 |
| May 20, 2026 | May 22, 2026 | $0.7934 |
| Apr 22, 2026 | Apr 24, 2026 | $0.7982 |
| Mar 18, 2026 | Mar 20, 2026 | $0.7804 |
| Feb 18, 2026 | Feb 20, 2026 | $0.7608 |
| Jan 21, 2026 | Jan 23, 2026 | $1.04 |
| Dec 24, 2025 | Dec 26, 2025 | $0.9967 |
| Nov 26, 2025 | Nov 28, 2025 | $1.02 |
| Oct 22, 2025 | Oct 24, 2025 | $1.30 |
Total distributions by year
If You Invested $10,000 in BTCI
Oct 17, 2024 to Oct 14, 2026, using actual prices and distributions
BTCI vs IBIT
$10,000 invested Oct 17, 2024 to Oct 14, 2026, all dividends reinvested
BTCI House Money Calculator
How long until distributions alone repay your initial investment, at the recent payout rate
Buys ~302.4 shares at $33.07 · recent average distribution $0.8447/share monthly
BTCI Income Goal Calculator
How much you would need invested today to reach a monthly income target, at the trailing 12-month payout rate
About BTCI
Seeks high monthly income from Bitcoin exposure, using an options overlay.
Income: Options overlay on bitcoin exposure
- Underlying
- Bitcoin
- Payout
- monthly
How BTCI Turns Bitcoin Exposure Into Income
The NEOS Bitcoin High Income ETF (BTCI) is an actively managed ETF that seeks high monthly income, with the potential for appreciation, based on exposure to exchange-traded products that have direct exposure to bitcoin. It invests in spot bitcoin ETPs, funds that track bitcoin's price by holding actual bitcoin, primarily through a Cayman Islands subsidiary, the NEOS Bitcoin High Income Portfolio CFC, and in some cases directly.1
Most of BTCI's long bitcoin exposure comes from options, which the prospectus calls synthetic exposure. It buys call options and sells put options, generally at the same strike price and expiration, with the calls primarily capturing bitcoin's rises and the puts its declines.1
The income comes primarily from writing (selling) call options on bitcoin-related instruments, meaning bitcoin, spot bitcoin ETPs, bitcoin futures ETFs (funds that principally invest in bitcoin futures contracts), or an index built on them. Each call earns the fund a premium. The calls are expected to generally expire in about one month and be held to or close to expiration, and the fund anticipates investing primarily in FLEX Options, exchange-listed contracts with customizable terms.1
Writing options requires BTCI to post collateral, which it holds as U.S. government securities such as Treasury bills, notes and bonds. Spot bitcoin ETPs held directly, outside the subsidiary, may also be eligible as collateral.1
BTCI's Subsidiary and Options Mechanics
BTCI expects to invest up to 25% of its total assets, measured at the time of investment, in its Cayman subsidiary, which may invest without limit in spot bitcoin ETPs. Holding the ETPs this way keeps the fund's bitcoin exposure within the federal tax requirements that apply to it.1
In a traditional covered call, an investor writes calls on a security it owns. The prospectus says BTCI's options-based approach is commonly called a synthetic covered call strategy. BTCI's written calls limit its participation in bitcoin gains beyond a certain point, effectively converting a portion of that potential upside into current income.1
When the adviser believes bitcoin's price will decrease, remain unchanged, or only increase slightly, BTCI may use a bear call spread. It writes an out-of-the-money call, one with a strike above the current price, and buys a call with the same expiration and a higher strike. The goal is a net credit, where the premium received exceeds the cost of the call bought.1
The adviser uses a proprietary, rules-based, systematic model to manage the options positions and may adjust the written and purchased calls before expiration to potentially capture gains and minimize losses. BTCI may also seek to harvest tax losses on spot bitcoin ETP or bitcoin futures ETF positions to offset realized taxable gains on those holdings.1
BTCI Distribution Record Through 2025
Dividend Stacker's record of past payments for BTCI starts with an ex-date of October 23, 2024. In 2025, the fund made 12 distributions totaling $16.05 per share. The smallest 2025 payment was $0.9967 and the largest was $1.57.2
Bitcoin and Options Risks in BTCI
The value of BTCI's spot bitcoin ETPs and options on bitcoin-related instruments is subject to fluctuations in the value of bitcoin, whose market is subject to rapid price swings and whose value has been, and may continue to be, substantially dependent on speculation. Bitcoin trades on largely unregulated and fragmented venues, and a small number of large holders may be able to manipulate its price.1
The prospectus warns that a large-scale fork, where the blockchain splits into competing versions, or an attacker gaining control of more than 50% of mining power could significantly impact bitcoin's value.1
BTCI loses money on a written call if the bitcoin-related instrument rises above that call's strike price, and its sold puts give it exposure to bitcoin's declines. Losses on written options can exceed the fund's initial investment in them and could be unlimited. BTCI does not seek leveraged exposure to bitcoin, but because it uses the leverage inherent in options, even a small market movement may result in significant losses.1
Spot bitcoin ETPs have a short trading history and are not registered under the Investment Company Act of 1940, so their investors lack that law's protections. If an ETP's creation and redemption process is interrupted, or it suspends issuing shares, its shares may trade at an increased premium or discount to net asset value.1
FLEX Options may trade in a less deep and liquid market than certain other exchange-traded options, and no one can guarantee a liquid secondary market for them. In a less liquid market, closing positions may mean paying a premium or accepting a discounted price, and may take longer, which could keep BTCI from achieving its objective.1
This section summarizes the main risks in BTCI's prospectus. The complete list of risks is in the fund's summary prospectus. This page is for learning about the fund and its distributions and is not investment advice; read the prospectus and do your own research before investing.
Sources
- 1. Summary prospectus (SEC Form 497K, filed 2026-07-16), NEOS ETF Trust, accessed Sep 29, 2026
- 2. BTCI distribution history, Dividend Stacker, accessed Sep 29, 2026
- 3. BTCI fund page, NEOS, accessed Sep 29, 2026
Written from the sources above and checked claim by claim against them. Last reviewed Sep 29, 2026. Figures that change, such as yield and price, appear in the live sections of this page.
How BTCI Distributions Are Taxed
Because the Cayman subsidiary is a controlled foreign corporation, income BTCI receives from it is passed through to the fund as ordinary income, which may be taxed at less favorable rates than capital gains. Writing calls may also significantly reduce or eliminate the fund's ability to pay distributions that count as qualified dividend income.1
At the end of each tax quarter, BTCI will limit the subsidiary to 25% of total assets to meet the asset diversification test for a regulated investment company. It may exceed that amount from time to time, inadvertently or when the adviser believes doing so is in the fund's best interests, while intending to keep complying with the test. If its subsidiary holdings exceed 25% at a quarter end, BTCI may no longer be eligible to be treated as a regulated investment company.1
The IRS has stopped issuing private letter rulings on whether this use of subsidiaries produces qualifying income, the type of income that must make up at least 90% of a regulated investment company's income. BTCI intends to treat the subsidiary's income as qualifying income without one. If the IRS decides that income is not qualifying income, BTCI may cease to qualify as a regulated investment company, which could subject it to federal income tax on its net income at regular corporate rates.1
BTCI Dividend FAQ
- How often does BTCI pay dividends?
- BTCI currently distributes every month, based on its recent payment history. Its most recent ex-dividend date was Sep 16, 2026 at $0.7184 per share.
- When is BTCI's next ex-dividend date?
- BTCI's next ex-dividend date is Oct 21, 2026, with payment on Oct 23, 2026. This date comes from the fund's published schedule. The fund has not announced the amount yet.
- What is BTCI's dividend yield?
- Over the trailing 12 months, BTCI paid $10.14 per share, a trailing 12-month yield of 30.6% at the current share price. The recent payout yield, from the latest payments annualized, is 25.6%. Option-income distributions change with the premiums the fund collects, so these two yields can differ.
- What is BTCI's total return with dividends reinvested?
- A $10,000 investment in BTCI on Oct 17, 2024 would be worth about $11,638 on Oct 14, 2026 with all distributions reinvested (+16.4%). Share price alone moved -33.1% over the same period.
- Does BTCI invest in bitcoin directly?
- No, the prospectus states that BTCI does not invest in bitcoin directly; it gets its exposure through spot bitcoin ETPs and options on bitcoin-related instruments. It holds shares of a bitcoin futures ETF only in limited circumstances, such as buying shares to deliver when calls it wrote on that ETF are exercised.
- Are BTCI's distributions classified as return of capital?
- NEOS reports that BTCI's distributions have been classified as a return of capital and may consist of option premiums, dividends, capital gains and interest. Return of capital lowers a shareholder's cost basis, which may lead to higher taxes when the shares are sold, even if they sell for less than the original investment. NEOS cautions that any return of capital amount it shows is a preliminary estimate that may change substantially for tax purposes, and Form 1099-DIV carries the final tax reporting.
- What is BTCI's expense ratio?
- The prospectus fee table shows a 0.98% management fee, no 12b-1 fees, 0.00% other expenses and 0.01% in acquired fund fees and expenses, for total annual fund operating expenses of 0.99%. Expenses of the Cayman subsidiary are consolidated with the fund's and are not shown separately.
- Who manages BTCI?
- NEOS Investment Management, LLC is the investment adviser, and it also advises the Cayman subsidiary. Garrett Paolella and Troy Cates, both Managing Partners of the adviser, are the portfolio managers.
- When did BTCI begin operating?
- BTCI commenced operations on October 17, 2024, according to its prospectus. Its shares list on the Cboe BZX Exchange.
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Data as of Oct 14, 2026 (quotes delayed 15+ minutes). Data is refreshed daily from market sources. Nothing on this page is investment advice. Estimates (next dividend date, amounts, breakeven timelines) are derived from historical distributions and can differ from actual fund announcements. See how these numbers are calculated.