Devoted, experienced HODLers try to avoid fixating on the daily gyrations of bitcoin. The largest cryptocurrency, of course, is not a set and forget investment. Still, the daily news flow can whipsaw novice market participants.
On the other hand, the digital currency spent time trading above $70,000 on Monday, April 6. It’d be even better if it can hold above there with some conviction. The good news is that investors can wade into Bitcoin while being paid to do so thanks to ETFs such as the newly minted NEOS Boosted Bitcoin High Income ETF (XBCI). Actively managed, XBCI is undoubtedly nifty in the world of Bitcoin ETFs.
“The Fund may seek to take advantage of tax loss harvesting opportunities by taking investment losses from the Spot Bitcoin ETPs and/or Bitcoin Futures ETF positions to offset realized taxable gains of the Spot Bitcoin ETPs and/or Bitcoin Futures ETFs,” according to NEOS.
Contrarian Signs Could Lift XBCI
Bullish contrarian indicators are emerging in the space, including what some traders view as a hard bottom at $60,000. There are other signals that may be pointing to some near-term appreciation for the cryptocurrency. That’s relevant in discussing in XBCI . While it’s an income-generating ETF, it has the capability to participate in some of Bitcoin’s upside, assuming that scenario materializes.
“The bulls may have been even more pleased over this past weekend by a couple of other bottoming signals,” reported CoinDesk. “First was the late Friday news that Jeff Park was exiting his role as chief investment officer at ProCap Financial (BRR). Led by Anthony Pompliano, ProCap was among 2025’s hastily formed bitcoin treasury companies aiming to hitch their wagon to the BTC bull market and replicate the success of Michael Saylor’s Strategy.”
It doesn’t sound bullish on the surface, but recent liquidations or reductions of the currency holdings by miners may be a positive contrarian indicator, too.
“Other signals of the past couple of weeks: bitcoin miner MARA Holdings unloading more than 15,000 of its bitcoin stack, peer Riot Platforms selling off its entire March BTC production of 3,778 coins,” according to CoinDesk.
And if it takes some time for contrarian views to evolve into upside, XBCI can afford to remain patient because the new ETF sports a 30-day SEC yield of 2.52%.
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