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Bitcoin is down 50% from its October 2025 all-time high of $126,200, but one income-focused retail investor is continuing to dollar-cost average into the NEOS Bitcoin High Income ETF (BTCI), a covered-call fund targeting a 24-to-30% annual distribution yield.
The investor now holds 729 BTCI shares across three accounts—representing 33.7% of a full Bitcoin—at an average cost basis of $40.11 per share, equivalent to roughly $87,000 per Bitcoin.
Portfolio Sits at a $6,353 Net Loss After Dividends Spread across a taxable brokerage, a business brokerage, and a health savings account, the investor's total outlay in BTCI stands at $29,237 against a current market value of $20,491—a capital loss of $8,744.
Accumulated distributions of $2,391 narrow that to a net loss of $6,353.
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