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ETF Comparison

BLOX vs BTCI: Which Is the Better Pick in 2026?

A head-to-head comparison of Nicholas Crypto Income ETF and NEOS Bitcoin High Income ETF covering yield, cost, risk, and income potential.

Data updated August 19, 2026

Best for

  • BLOXInvestors who want to maximize current income — roughly 36.56%, generated by selling options premium.
  • BTCIInvestors who want crypto exposure that pays you along the way, not just price gains.

Jump to the side-by-side numbers

Visual comparison

Key metrics

Projected income on $10K

Projections assume the current yield and share price remain constant. Actual results will vary.

Total returns

BLOX has outpaced BTCI over the trailing twelve months, posting a -17.67% total return against -38.84%. Measured from Jun 2025 — when the younger fund began trading — BLOX has compounded at 1.49% a year versus -27.94% for BTCI. BTCI has been the steadier holding, though — annualized volatility of 40.0% against 57.1% for BLOX. Figures are total returns: price change plus every distribution reinvested.

Total return and risk statistics by fund. Each row is one fund; each column is one period or statistic.
SymbolYTD1YSince Jun 2025Volatility Sharpe Sortino Max drawdown
BLOX-12.77%-17.67%1.49%57.1%-0.42-0.58-47.1%
BTCI-23.30%-38.84%-27.94%40.0%-1.34-1.74-48.4%

Total return with all distributions reinvested on the ex-dividend date, split-adjusted, as of August 19, 2026. YTD and 1Y are cumulative; longer windows are annualized. “Since Jun 2025” measures every fund from June 17, 2025 — the youngest fund's first trading day — so all funds share one comparison window. Volatility is the annualized standard deviation of daily total returns over the past year. Sharpe and Sortino divide the annualized return in excess of the risk-free rate by, respectively, that volatility and the downside deviation (both over the past year) — higher is better. Max drawdown is the largest peak-to-trough total-return decline over the same window — shallower is better.

Side-by-side snapshot

Side-by-side snapshot. Each row is one metric; each column is one fund.
MetricBLOXBTCI
Full nameNicholas Crypto Income ETFNEOS Bitcoin High Income ETF
IssuerNicholas Wealth ManagementNEOS
Last Close$12.66 as of August 19, 2026$28.73 as of August 19, 2026
Distribution yield36.56%26.27%
Distribution Safety Score™ 4446
Expense ratio0.99%0.98%
AUM$290M$1.10B
Distribution frequencyWeeklyMonthly
Underlying indexBasket (Equity portfolio focused on crypto-related companies)Bitcoin ETPs
ObjectiveSeeks to provide current income and capital appreciation through exposure to crypto-related companies with an options strategy generating weekly income distributions.Seeks to generate high monthly income with potential appreciation through bitcoin exposure.
Asset classEquityEquity
Inception date06/17/202510/16/2024
Beta3.11211.6764
Last dividend$0.0890$0.6289
Ex-dividend date08/14/202608/19/2026

Bottom lineChoose BLOX if you want to maximize current income — roughly 36.56%, generated by selling options premium. Choose BTCI if you want crypto exposure that pays you along the way, not just price gains. There's no free lunch: BLOX's payout comes from selling options, which caps upside and can erode the share price over time, while BTCI keeps full price exposure.

How the risk works

Read this before the income numbers below: the strategy mechanics on this page shape what those payouts can cost you.

  • Capped upside and premium dependence. BLOX and BTCI generate income by selling options, which trades away part of a strong rally in exchange for premium. Distributions can include return of capital, and a payout the underlying assets cannot sustain shows up as NAV erosion over time — the big yield number is not free.
  • Crypto volatility. BLOX and BTCI sit on top of crypto-asset prices, which routinely swing far more than equities. A single drawdown can exceed a year of distributions, so income projections deserve extra skepticism here.

Learn the mechanics: Return of capital, explained · NAV erosion, explained

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Income calculator

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Nicholas Wealth Management
ETFs13
Total AUM$630M

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

Nicholas Wealth Management operates a focused lineup of 10 ETFs that emphasize digital assets, income generation, and thematic investing strategies. The issuer's portfolio includes specialized funds targeting sectors such as blockchain (BLOX), precious metals (GLDN, SLVX), nuclear energy (NUKX), and digital finance (FIAX), alongside income-focused offerings. This niche positioning reflects the firm's focus on alternative and emerging investment themes rather than broad market exposure.

See our curated list of related YouTube videos on BLOX.

See all Nicholas Wealth Management ETFs
NEOS
ETFs19
Total AUM$32.2B

ETFs and AUM reflect what Dividend Vision tracks — the issuer's full lineup may be larger.

NEOS is known for developing specialized income-focused ETFs that employ strategies like covered calls, hedging, and enhanced yields across various asset classes. The firm manages 19 funds organized into nine distinct families, including offerings in equity high income, fixed income enhancement, digital assets, and alternative strategies, with popular tickers like SPYI (S&P 500 covered call), QQQI (Nasdaq-100 covered call), and QQQH (Nasdaq-100 hedged equity income). NEOS distinguishes itself in the ETF landscape through its emphasis on income generation and downside protection strategies rather than traditional growth approaches.

See our curated list of related YouTube videos on BTCI.

See all NEOS ETFs

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Quick verdict

BLOX (Nicholas Crypto Income ETF) and BTCI (NEOS Bitcoin High Income ETF) are both dividend ETFs, but they take different approaches.

BLOX offers the higher yield at 36.56% vs 26.27% for BTCI. A higher yield means more current income per dollar invested, though it may come with different risk characteristics.

BTCI is cheaper with an expense ratio of 0.98% compared to 0.99%.

They track different benchmarks: BLOX is linked to Basket (Equity portfolio focused on crypto-related companies) while BTCI tracks Bitcoin ETPs, which means their performance drivers differ.

BTCI is the larger fund by assets ($1.10B), which generally means tighter spreads and better liquidity.

Who should choose each?

Choose BLOX

Nicholas Crypto Income ETF

  • Want to maximize current income — BLOX distributes roughly 36.56% from selling options premium, vs 26.27% for BTCI.
  • Want crypto exposure that pays income rather than waiting on price alone.

Choose BTCI

NEOS Bitcoin High Income ETF

  • Want crypto exposure that pays income rather than waiting on price alone.
  • Want to keep costs low — a 0.98% expense ratio vs 0.99% for BLOX.
  • Prefer lower volatility — a beta of 1.7 vs 3.1 for BLOX.

Not sure? Use the income calculator and snapshot above to weigh these trade-offs against your own goals.

Deep dive

Yield & income

On a $10,000 investment, BLOX would generate roughly $304.67/month, while BTCI would produce $218.92/month, at current distribution rates.

BLOX yield36.56%
BTCI yield26.27%
Monthly diff on $10K$85.75

Cost & efficiency

Over 10 years on $10,000, BLOX would cost approximately $990 in fees vs $980 for BTCI (simplified, not compounded). The $10.00 difference may be offset by yield or performance.

BLOX ER0.99%
BTCI ER0.98%

Strategy & risk

BLOX tracks Basket (Equity portfolio focused on crypto-related companies) with an options approach, while BTCI tracks Bitcoin ETPs with a crypto approach. Beta is 3.1121 for BLOX and 1.6764 for BTCI, making BTCI the less volatile of the two by this measure.

BLOX beta3.1121
BTCI beta1.6764

Fund details

BLOX is managed by Nicholas Wealth Management (launched 06/17/2025) with $290M in assets. BTCI is managed by NEOS (launched 10/16/2024) with $1.10B in assets.

BLOX AUM$290M
BTCI AUM$1.10B
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Frequently asked questions

What is the current distribution yield for BLOX and BTCI?

BLOX currently distributes 36.56% and BTCI 26.27%, based on fund data updated August 2026. Distribution yield moves with both the payout and the share price, so check the as-of date before relying on either figure.

Is BLOX or BTCI better for dividend income?

It depends on your goals. BLOX currently offers the higher distribution yield, which means more income per dollar invested. However, a lower-yield fund may offer better total return or lower volatility. Consider your time horizon and risk tolerance.

What is the difference between BLOX and BTCI?

BLOX (Nicholas Crypto Income ETF) tracks Basket (Equity portfolio focused on crypto-related companies) with an options approach, while BTCI (NEOS Bitcoin High Income ETF) tracks Bitcoin ETPs with a crypto approach. They are issued by Nicholas Wealth Management and NEOS respectively.

Can I hold both BLOX and BTCI?

Yes — nothing prevents holding both. Whether the combination actually diversifies depends on how much the underlying exposures overlap, which isn't fully measurable from the data on this page; review each security's holdings, sector, and strategy before treating them as complementary.

Is BLOX or BTCI safer?

By Dividend Vision's Distribution Safety Score — a rules-based 0–100 estimate of how resilient a distribution looks, where higher is safer — they are effectively tied: BTCI scores 46, BLOX scores 44. Neither has a clear safety edge on that measure. BTCI has also shown lower price volatility (beta 1.68 vs 3.11 for BLOX). No score makes an investment risk-free — treat this as a screening signal, not a guarantee, and the leverage, options-income, or crypto caveats flagged on this page apply regardless of score.

Which has lower fees, BLOX or BTCI?

BLOX has an expense ratio of 0.99% while BTCI charges 0.98%. Lower fees mean more of your investment returns stay in your pocket over time.

How much income does $10,000 in BLOX vs BTCI generate?

At current rates, $10,000 in BLOX would generate roughly $304.67 per month ($3,656.00 annually). The same in BTCI would produce about $218.92 per month ($2,627.00 annually).

Which has performed better historically, BLOX or BTCI?

BLOX has outpaced BTCI over the trailing twelve months, posting a -17.67% total return against -38.84%. Measured from Jun 2025 — when the younger fund began trading — BLOX has compounded at 1.49% a year versus -27.94% for BTCI. BTCI has been the steadier holding, though — annualized volatility of 40.0% against 57.1% for BLOX. Figures are total returns: price change plus every distribution reinvested. Past performance does not guarantee future results.

More comparisons to explore

BLOX vs BTCI — at a glance

Generated August 16, 2026.

Figures quoted in this analysis are from its generation date and may lag the live snapshot table above, which always shows the latest data.

Overview

BLOX and BTCI are both cryptocurrency-focused ETFs using options strategies to generate high distributions, but they differ fundamentally in underlying exposure and distribution mechanics. BLOX holds a diversified basket of crypto-related equities and aims for weekly distributions at a 35.60% rate; BTCI holds bitcoin ETPs and targets monthly distributions at 27.62%. Both use covered-call or similar income-generating overlays, but BLOX's broader equity exposure carries significantly higher volatility (beta 3.11 vs. 1.68 for BTCI).

How they differ

The biggest difference is underlying composition: BLOX is a equity fund holding crypto-adjacent companies (miners, exchanges, blockchain firms), while BTCI holds spot or futures bitcoin exposures through ETPs—a direct commodity derivative strategy rather than equity ownership. That structural difference drives the second major divergence: BLOX's 35.60% distribution rate implies weekly payouts relying heavily on option premium and potential capital rotation; BTCI's 27.62% rate, while still elevated, anchors to a less volatile base asset and distributes monthly, allowing more stable timing. Third, BTCI is substantially larger ($1.10B in AUM versus $284M), suggesting more liquidity and lower tracking error, though both carry similar expense ratios (0.99% and 0.98%).

Who each is best for

BLOX: Investors seeking maximum current income from crypto exposure who can tolerate weekly distribution timing and are willing to accept the volatility and complexity of a leveraged equity portfolio (beta 3.11). Weekly payouts suit those actively managing reinvestment or needing frequent cash flow from a concentrated allocation.

BTCI: Investors who want direct bitcoin exposure with monthly income generation and lower volatility than equity-based alternatives. Fits allocations prioritizing a single-asset strategy with less frequent distributions and a larger, more established fund structure.

Key risks to know

  • NAV erosion at extreme distribution yields. BLOX's 35.60% annual distribution rate is more than triple typical equity fund yields; sustained payouts at this level historically require meaningful return-of-capital treatment or aggressive option sales that can erode net asset value over time.
  • Options and covered-call execution risk. Both funds rely on selling call options to generate income. If the underlying asset rallies sharply, both will be called away or forced to roll positions at unfavorable terms, capping upside while distributions remain fixed—a particular concern for BTCI if bitcoin appreciates substantially.
  • Extreme volatility mismatch between holdings and distributions. BLOX's beta of 3.11 means its crypto-equity holdings can swing 3x faster than the broader market, while its weekly distribution cadence may lock in losses during drawdowns. BTCI's lower beta (1.68) still reflects bitcoin's inherent volatility, which may diverge sharply from its monthly payout schedule.
  • Cryptocurrency regulatory and structural risk. Both ETFs depend on the regulatory status and operational stability of bitcoin and crypto-asset ETPs. A significant regulatory shift or operational issue in the bitcoin or crypto exchange-traded product ecosystem could impair the underlying exposure.
  • Inception and track record gap. BLOX launched in June 2025 and BTCI in October 2024; neither has endured a full market cycle, making it difficult to assess how their option strategies and NAV management perform through extended downturns.

Bottom line

If you want maximum income frequency and are betting on broad crypto-equity volatility to fuel premium capture, BLOX's weekly distributions and leveraged portfolio design stand out—but its 35.60% yield and 3.1x beta carry substantial NAV erosion and timing risk. If you prefer direct bitcoin exposure with more moderate distribution frequency and a larger, established fund structure, BTCI's 27.62% yield and lower volatility profile may be more sustainable. Both rely on options strategies that can underperform if crypto prices move sharply higher; past performance does not predict future results.

AI-generated analysis for educational purposes only. Verify important details independently; past performance does not guarantee future results.

Learn the method

The metrics behind this comparison, explained in the Academy.

How covered-call funds work How to read a fund's stats The covered-call opportunity cost

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