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NEOS Bitcoin income ETFs see momentum as bitcoin rally draws forecasts
Standard Chartered reiterated a $500,000 bitcoin target but moved the timeline to 2030, while the NEOS Boosted Bitcoin High Income ETF (XBCI) has nearly $147 million in assets under management.
Bitcoin’s sharp rally last week is driving renewed attention to bitcoin income exchange traded funds, with ETF Trends pointing to the NEOS Bitcoin High Income ETF (BTCI) and the NEOS Boosted Bitcoin High Income ETF (XBCI) as vehicles designed to pair income with upside participation. ETF Trends said Standard Chartered reiterated its view that bitcoin could reach $500,000, but pushed the timing to 2030 from a prior 2028 call. The article notes that would place the projection more than six times above where bitcoin traded late Monday, reinforcing that investors may need to be patient.
The outlet also highlighted comments attributed to Standard Chartered’s Head of Digital Assets Research, Geoff Kendrick, who linked the recent move in bitcoin to shifting market conditions, including coverage of higher Treasury yields and expectations around Federal Reserve independence. It added that some crypto experts interpret the rebound as confirmation of a near bottom or the start of a new cycle.
On the ETF side, ETF Trends described XBCI as the younger fund, launched in February, and said it uses an options strategy intended to create 150% of notional exposure to BTCI. The article also cited nearly $147 million in assets under management for XBCI and said bitcoin recorded its best weekly performance in more than three years.
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