NEOS Bitcoin High Income ETF(CBOE:BTCI)

BTCI invests in ETPs with exposure to bitcoin and bitcoin futures while employing call option strategies that provide high monthly income. The actively managed fund utilizes a proprietary, rules-based, systematic model to manage options positions. The fund utilizes a synthetic covered call strategy via exchange-traded and FLEX options. This, however, limits participation in potential gains if the ETF shares increase in value. The fund may employ a bear call spread to generate a net credit when the adviser believes a futures ETFs price will decrease, remain unchanged, or only increase slightly. This happens when the premium earned from the option sold is greater than what is paid to purchase a call option further out-of-the-money or from the strike price. The fund will hold US Treasurys as collateral. Investments may be held in a wholly owned Cayman Island subsidiary. The fund may take advantage of tax loss harvesting to capture losses in order to offset gains.