MarketPR
Bitcoin has surrendered 50% since its October 2025 all-time high of $126,200, yet one retail investor is accelerating purchases of the NEOS Bitcoin High Income ETF (BTCI), accumulating 729 shares — equivalent to 33.7% of a single coin — across three accounts while sitting on a net loss of $6,353 after $2,391 in collected distributions.
The Position: Cost Basis, Drawdown, and Distribution Math The investor's 729 shares carry an average cost basis of $40.11 per share, roughly equivalent to buying $BTC at $87,000.
Against a current BTCI price of $28.11, total cost of $29,237 has eroded to a market value of $20,491 — an $8,744 unrealized loss before dividends.
Historical per-share payouts ranging from $0.76 to $1.57 put break-even somewhere in the 6-to-12-month window.
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