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The Fund is an actively managed exchange-traded fund (ETF) that seeks to achieve its investment objective by investing in exchange-traded spot Bitcoin ETPs (the Spot Bitcoin ETPs) primarily through a controlled foreign corporation and in some cases by directly investing in Bitcoin ETPs, obtaining indirect Bitcoin exposure through ETFs that invest principally in Bitcoin futures contracts (each, a Bitcoin Futures ETF), which is obtained by employing an options strategy that consists of selling (writing) put options and buying call options at the same strike price on one or more Bitcoin Futures ETFs, and utilizing a call options strategy to provide high monthly income, which primarily consists of selling (writing) call options on a Bitcoin Futures ETF.

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In a significant shift in military leadership, President&nbsp;Donald Trump&nbsp;has removed Air Force General&nbsp;C.Q. Brown&nbsp;from his role as&nbsp;chairman of the Joint Chiefs&nbsp;of Staff. This decision, announced on Friday, has led to a reshuffle within the U.S. military&#8217;s top ranks.
What Happened: Trump revealed on Truth Social his intention to nominate former Lieutenant General&nbsp;Dan &#8220;Razin&#8221; Caine&nbsp;as Brown&#8217;s successor. This marks the first time a retired officer has been nominated for this prestigious position.
The reshuffle extends beyond Brown&#8217;s dismissal. Admiral&nbsp;Lisa Franchetti,&nbsp;the first woman to lead&nbsp;a military service, will be replaced&nbsp;as head of the U.S.&nbsp;Navy.
Additionally,&nbsp;the air force vice chief&nbsp;of staff and&nbsp;judge advocates general for the&nbsp;Army, Navy, and Air Force are also being removed, as confirmed by the Pentagon.
Trump&#8217;s actions have drawn criticism from Democratic lawmakers. Senator&nbsp;Jack Reed&nbsp;and Representative&nbsp;Seth Moulton&nbsp;have voiced their concerns, citing potential politicization and risks to national security, according to a report by Reuters.
Defense Secretary&nbsp;Pete Hegseth&nbsp;had expressed doubts regarding Brown&#8217;s appointment, questioning whether it was based on merit or race.&nbsp;Brown, a former fighter pilot, has previously spoken about facing discrimination in the military.
Why It Matters: This reshuffle comes amid Trump&#8217;s broader efforts to reshape military policies.
In January, Trump signed executive orders aimed at <a href="https://www.benzinga.com/news/25/01/43266467/trumps-executive-orders-make-us-most-lethal-fighting-force-in-the-world-iron-dome-defense-system-get-woke-policies-out-of-military">strengthening</a> U.S. military capabilities, including the construction of an Iron Dome missile defense system, modeled after Israel&#8217;s defense technology.
Trump emphasized the need for a &#8220;strong, strong defense&#8221; to ensure the U.S. remains the &#8220;most lethal fighting force in the world.&#8221;
Additionally, Trump has <a href="https://www.benzinga.com/news/25/02/43752207/were-going-to-find-billions-trump-targets-pentagon-for-deep-spending-cuts">targeted</a> the Pentagon&#8217;s $800 billion budget for deep spending cuts, aligning with&nbsp;Elon Musk&#8216;s efforts to uncover potential &#8220;fraud and abuse.&#8221;
This move has raised <a href="https://www.benzinga.com/news/25/02/43578729/court-halts-musks-doge-squad-from-gaining-access-to-treasury-payment-systems-a-risk-of-irreparable-harm">concerns</a> about conflicts of interest, given Musk&#8217;s government contracts. However, National Security Adviser&nbsp;Mike Waltz&nbsp;assured that &#8220;appropriate firewalls&#8221; would be in place.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

News

Politics

Trump Dismisses Top US General, Breaks From Tradition To Nominate Retired Officer As Top Military Officer

Goldman Sachs expert Scott Rubner has cautioned that Wall Street stocks may face a downturn, citing growing instability in the options market as a key factor behind his prediction.
What Happened: According to a note from Scott Rubner, the stock market could come under pressure as nearly $2.7 trillion in U.S. stock market derivatives approach expiration, reported by Reuters on Friday. If these contracts remain unexercised, heightened volatility may follow.
Rubner also highlighted additional factors that could slow stock buying, including the impending annual tax payments by U.S. retail traders and the seasonal decline in retirement fund contributions to mutual and exchange-traded funds in March.
SEE ALSO:<a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43805107/vivek-ramaswamy-foresees-bitcoin-as-a-more-common-corporate-treasury-holding-as-era-of-easy-money-ends" target="_blank" rel="noreferrer noopener"> Vivek Ramaswamy Foresees Bitcoin As A ‘More Common' Corporate Treasury Holding As Era Of Easy Money Ends</a>
Approximately $2.7 trillion in equity options were set to expire on Friday, covering bets on the S&amp;P 500, U.S. exchange-traded funds, and individual stocks. According to a Goldman Sachs note, banks and intermediaries holding over $9 billion in hedges for these trades have helped stabilize market volatility.
Dan Izzo, founder of hedge fund BLKBRD Asset Management and a former bank trader, explained that if investors fail to renew their options bets, intermediaries will be forced to unwind their hedges. This creates significant short-term pressure. The bigger risk is if &#8220;no one willing to buy that impact, we could see it trigger a larger sell off,&#8221; Izzo warned.
Why It Matters: Although the S&amp;P 500 and European stock markets reached record highs on Tuesday, they have since retreated. The decline is partly driven by President Donald Trump&#8216;s <a href="https://www.benzinga.com/25/02/43805852/trump-shakes-global-trade-with-25-auto-chip-and-pharma-tariffs-announcement-asian-stocks-pare-their-five-day-rally">tariff warning on pharmaceuticals, semiconductor </a>chips, and wood, fueling trade war concerns and rattling investors.
The tariffs imposed by the Trump administration raised concerns for many giants including Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>), among others. 
In a poll conducted by Benzinga,&nbsp;<a href="https://www.benzinga.com/trading-ideas/25/02/43827658/exclusive-apple-nvidia-tesla-or-boeing-which-company-faces-the-biggest-risk-from-trumps-china-tariffs-35-say-this-stock" target="_blank" rel="noreferrer noopener">35% of the respondents&nbsp;</a>believed that Apple would see maximum impact from Trump's tariffs due to its reliance on Chinese supply chains. Most respondents also feel that these plans could provoke retaliation from other nations. <a href="https://www.benzinga.com/markets/equities/25/02/43839627/apple-may-hike-iphone-prices-by-9-due-to-trumps-tariffs-says-bank-of-america" target="_blank" rel="noreferrer noopener">Analysts at the Bank of America</a>&nbsp;securities have suggested that Apple may need to increase iPhone prices by 9% to counter the tariffs.
Meanwhile, the SPDR S&amp;P 500 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and the Dow Jones Industrial Average both tumbled 1.7% on Friday, recording their steepest single-day losses since Dec. 18. At the same time Invesco QQQ Trust (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) ended 2.07% lower, according to data from <a href="http://pro.benzinga.com/dashboard">Benzinga Pro.</a>
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<li>READ MORE:&nbsp;<a href="https://www.benzinga.com/tech/25/02/43805175/elon-musks-tesla-prepares-for-india-expansion-engineer-confirms-hiring-push-we-are-looking-for-motivated-talent-to-help-us" target="_blank" rel="noreferrer noopener">Elon Musk's Tesla Prepares For India Expansion, Engineer Confirms Hiring Push: ‘We Are Looking For Motivated Talent To Help Us…'</a></li>
</ul>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Equities

Markets

AAPL

NVDA

Top Analyst Warns Of Looming Stock Market Correction As S&P 500 Records Biggest Single Day Loss Since December: 'We Could See It Trigger A Larger Sell Off'

US negotiators have reportedly threatened to cut Ukraine&#8217;s access to SpaceX&#8217;s Starlink satellite internet service. This move comes amid ongoing negotiations over <a href="https://in.benzinga.com/markets/commodities/25/02/43788546/ukraine-officials-stall-trumps-colonial-rare-earths-bid-prefer-mutually-beneficial-deal">access to Ukraine&#8217;s critical minerals.</a>
What Happened: Negotiators from the U.S. have been pushing Ukraine to provide access to its vital minerals. As a bargaining chip, they have raised the prospect of revoking <a href="https://www.benzinga.com/tech/24/12/42719245/elon-musks-starlink-to-bring-space-based-mobile-connectivity-to-ukraine">Ukraine&#8217;s access to the Starlink</a> internet system, which is owned by Elon Musk&#8216;s&nbsp;SpaceX,&nbsp;Reuters&nbsp;reported.
This development follows the rejection of an initial proposal from U.S. Treasury Secretary Scott Bessent by Ukrainian President Volodymyr Zelenskyy.
During a meeting between U.S. special Ukraine envoy&nbsp;Keith Kellogg&nbsp;and Zelenskiy, Ukraine was warned of a potential shutdown of the Starlink service if a deal on critical minerals was not reached, according to the report. 
See Also: <a href="https://www.benzinga.com/general/space/25/02/43807232/trump-praises-elon-musks-starlink-rollout-says-spacex-rocket-recovery-is-like-you-grab-a-beautiful-little-babyclaims-us-russia-china-cant-compete">Trump Praises Elon Musk&#8217;s Starlink Rollout, Says SpaceX Rocket Recovery Is &#8216;Like You Grab A Beautiful Little Baby:&#8217; &#8216;Nobody Else Can Do It&#8217;</a>
Starlink has been vital in maintaining Ukraine's internet access amid the ongoing conflict. &#8220;Ukraine&nbsp;runs on Starlink. They consider&nbsp;it their North Star,&#8221; a source told the publication. 
&#8220;Losing&nbsp;Starlink &#8230; would be a&nbsp;massive blow.&#8221;
Melinda Haring, a senior fellow at the Atlantic Council, stressed that Starlink is crucial for Ukraine's drone operations, a cornerstone of its military strategy. &#8220;Losing Starlink would be a game changer,&#8221; she warned.
Why It Matters: The U.S. has been actively involved in the Ukraine-Russia conflict, with President Trump&nbsp;<a href="https://www.benzinga.com/25/02/43837157/trump-labels-zelenskyy-a-dictator-without-elections-urges-ukraine-to-negotiate-or-risk-losing-war">warning Zelenskyy </a>to negotiate an end to the war or risk losing Ukraine entirely. 
Zelenskyy has rejected the Trump administration&#8217;s demand for $500 billion in Ukrainian mineral resources as repayment for wartime aid. On Friday, he confirmed that U.S. and Ukrainian teams are negotiating an agreement, while President Trump voiced optimism that a deal will be finalized soon.
This has led to a rift between the two leaders, with Trump&nbsp;<a href="https://www.benzinga.com/25/02/43837157/trump-labels-zelenskyy-a-dictator-without-elections-urges-ukraine-to-negotiate-or-risk-losing-war">denouncing Zelenskyy</a>&nbsp;as &#8220;a dictator without elections.&#8221;
Read Next: <a href="https://www.benzinga.com/tech/25/02/43582884/elon-musks-spacex-and-t-mobile-go-live-with-starlink-powered-satellite-to-cell-service-heres-how-much-it-will-cost">Elon Musk&#8217;s SpaceX And T-Mobile Go Live With Starlink-Powered Satellite-To-Cell Service: Here&#8217;s How Much It Will Cost</a>
Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Government

SPACE

Tech

Trump Team Threatens To Cut Ukraine's Access To Elon Musk's Starlink Over Minerals Dispute: Report

President Donald Trump ordered his trade chief to reopen investigations into<a href="https://www.benzinga.com/general/entertainment/24/10/41147159/netflix-disney-amazon-hit-by-philippines-new-12-tax-on-digital-providers"> digital service taxes</a> imposed on U.S. tech firms, a move that could result in new tariffs on affected countries. 
What Happened: Trump&#8217;s order, issued on Friday, is aimed at countering the DSTs,&nbsp;fines, practices, and policies that&nbsp;foreign governments impose on American companies. 
The directive calls on the U.S. Trade Representative&#8217;s office to reopen past digital service tax investigations from Trump's first term and examine any new cases where digital taxes may unfairly target U.S. companies.
See Also:&nbsp;<a href="https://www.benzinga.com/25/02/43806703/mark-zuckerbergs-meta-platforms-dips-below-short-term-average-as-it-snaps-20-day-winning-run" target="_blank" rel="noreferrer noopener">Meta Stock Dips Below Short-Term Average As Mark Zuckerberg-Led Tech Giant Snaps 20-Day Winning Streak</a>
Digital service taxes, aimed at major U.S. tech firms like Google (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>), Meta Platforms Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/META#NASDAQ">META</a>), Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>), and Amazon (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>), have been a persistent trade issue for multiple U.S. administrations.
Countries including Britain, France, Italy, Spain, Turkey, India, Austria, and Canada have implemented these taxes on the local sales revenue of these and other digital service providers.
During Trump's first term, the U.S. Trade Representative's office launched Section 301 investigations into these policies, resulting in retaliatory tariffs on select imports.
Why It Matters: This move by Trump comes in the wake of his recent announcement to impose a&nbsp;<a href="https://www.benzinga.com/25/02/43805852/trump-shakes-global-trade-with-25-auto-chip-and-pharma-tariffs-announcement-asian-stocks-pare-their-five-day-rally">25% tariff on auto imports, chips, and pharmaceuticals</a>, causing a stir in international trade. The tariffs are expected to take effect as early as April 2, following a report from his cabinet members outlining options for import duties.
Amid escalating <a href="https://www.benzinga.com/markets/equities/25/02/43876173/apple-ceo-tim-cook-reportedly-meets-trump-as-tariff-impact-looms-on-iphone-sales-and-companys-china-strategy">trade tensions between the U.S.</a> and China, Apple&#8217;s CEO Tim Cook is said to have met President Trump. According to Trump, Cook discussed investing &#8220;hundreds of billions of dollars&#8221; in the U.S. amid tariff threat.
Trump&#8217;s memo instructs his administration to assess whether any European Union or British policies encourage U.S. companies to adopt practices that restrict free speech or promote censorship. According to a White House fact sheet, special attention will be given to how U.S. firms are impacted by the EU&#8217;s Digital Markets Act and Digital Services Act.
This comes amid ongoing <a href="https://www.benzinga.com/24/09/40915828/google-wins-1-7b-eu-antitrust-fine-appeal-over-5-year-old-online-search-advertising-case">tension between tech giants and the EU. </a>
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

AMZN

GOOG

GOOGL

Trump Moves To Impose Tariffs On Countries With Digital Taxes, Defending Apple, Amazon, Meta, Google And Other US Tech Giants

Michael Jordan's legendary Chicago estate has taken on a new life under its latest owner. After <a href="https://www.benzinga.com/real-estate/24/12/42638801/before-his-180-on-climate-change-elon-musk-advocated-for-action-cautioning-that-oceanfront-real-estate-values-would-plummet-2">sitting on the market</a> for over a decade, the sprawling Highland Park mansion finally sold for $9.5 million in December. But instead of keeping it as a private home, the new buyer, John Cooper, is already shaking things up—turning it into a luxury rental at a jaw-dropping $230,000 per month and selling off shares of the property in a unique timeshare model.
<h2 class="wp-block-heading">A Discounted Sale After 12 Years on the Market</h2>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Michael Jordan&#39;s mansion sitting seven acres with nine beds and 19 baths &#x1f92f; <a href="https://t.co/ZjQV0wDOdq">pic.twitter.com/ZjQV0wDOdq</a>
&mdash; The Instigator (@Am_Blujay) <a href="https://twitter.com/Am_Blujay/status/1787188879541317787?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Jordan originally listed the 56,000-square-foot estate in 2012 for $29 million, but it <a href="https://www.benzinga.com/markets/24/12/42678673/michael-jordan-sells-his-massive-luxury-mansion-for-9-5-million-but-it-took-12-years-to-find-a-buyer-and-he-spent-50-million-building-it">struggled to attract buyers</a>, despite multiple price cuts and the home's deep ties to the basketball legend. The mansion, known as Legend Point, boasts nine bedrooms, 19 bathrooms, a full-size basketball court, a cigar lounge, and even doors from the original Playboy Mansion. After years of markdowns, Cooper, a real estate investor from Nebraska, purchased the property for $9.5 million—a significant drop from its original asking price.
<h2 class="wp-block-heading">Turning Legend Point Into A Business</h2>
Rather than using the mansion as his primary residence, Cooper quickly set plans in motion to monetize the iconic home. Per Realtor.com, just weeks after closing the deal, he announced that portions of the property would be sold as luxury timeshares under the name &#8220;Champions Point.&#8221; Co-owners can buy a share for at least $1 million, granting them access to the estate for a designated week each year. Owners can invite up to 24 guests and even host high-end events for an extra fee.
Trending: Many don&#8217;t know there are tax benefits when buying a unit as an investment —<a href="https://www.benzinga.com/money/casa-shares-y2"> Here&#8217;s how to invest in real estate by mirroring BlackRock's big move</a>
Now, in addition to selling shares, Cooper has listed the entire estate for rent, offering anyone with deep enough pockets the chance to live in Jordan's former home for $230,000 a month. The listing describes it as a &#8220;once-in-a-lifetime opportunity&#8221; for those who &#8220;live and breathe sports.&#8221;
<h2 class="wp-block-heading">What Renters and Co-Owners Get</h2>
The mansion's amenities are as grand as its history. Renters and co-owners gain access to a regulation-size basketball court, an infinity pool with an island, a tennis court, a putting green, a state-of-the-art home theater, a wine cellar, a commercial-grade fitness center, and a cigar room with a custom humidor. High-end add-ons, including private chefs, on-site entertainment, and luxury transportation, are also available for an extra cost.
Cooper, a longtime Bulls fan who has lived in Chicago for the past decade, says he wants to preserve the property's legacy while also making it more accessible to sports enthusiasts, celebrities, and businesses looking for a one-of-a-kind luxury experience.
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Michael Jordan's Former $9.5 Million Chicago Megamansion Is Now A $230,000/Month Rental As Its New Owner Sells Off Pieces Of The Property

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) CEO Tim Cook has reportedly pledged a significant investment in the United States and a shift in manufacturing from Mexico to the U.S. President Donald Trump made this announcement during a meeting with governors.
What Happened: After <a href="https://www.benzinga.com/markets/equities/25/02/43876173/apple-ceo-tim-cook-reportedly-meets-trump-as-tariff-impact-looms-on-iphone-sales-and-companys-china-strategy">meeting Cook at the White House </a>this week, Trump revealed that the Apple CEO had assured him of moving iPhone maker&#8217;s manufacturing from Mexico to the U.S.
 &#8220;He&#8217;s&nbsp;investing hundreds of billions of&nbsp;dollars&#8230; That&#8217;s&nbsp;what he told me. Now&nbsp;he has to do it,&#8221; Trump said.
Trump also mentioned that Cook had halted two plants in Mexico and would now be producing Apple products in the U.S. However, Cook has not yet publicly announced any such investment.
"They don't want to be in the tariffs," Trump said.
See Also:&nbsp;<a href="https://in.benzinga.com/markets/equities/25/02/43873396/apple-stock-has-run-up-over-10-in-a-month-jim-cramer-says-iphone-maker-is-ramping-and-the-credit-goes-to-chinese-subsidies" target="_blank" rel="noreferrer noopener">Apple Stock Has Run Up Over 10% In A Month, Jim Cramer Says iPhone Maker Is ‘Ramping' And The Credit Goes To Chinese Subsidies</a>
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<iframe loading="lazy" title="TRUMP DOGE EFFECT: President Trump FULL REMARKS on Spending, Ukraine War, Taxes, Migrants" width="500" height="281" src="https://www.youtube.com/embed/b92O_a3MkpA?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
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It's unclear which manufacturing facilities Trump was referring to. Foxconn Technology Group, the maker of Apple's iPhones, already has a strong presence in Mexico and plans to expand further.
Apple did not immediately respond to <a href="http://pro.benzinga.com">Benzinga&#8217;s</a> request for comment. 
Why It Matters: The news of Apple&#8217;s potential shift in manufacturing and significant U.S. investment comes at a crucial time for the tech giant. Like other tech giants, Apple is grappling with <a href="https://www.benzinga.com/trading-ideas/25/02/43827658/exclusive-apple-nvidia-tesla-or-boeing-which-company-faces-the-biggest-risk-from-trumps-china-tariffs-35-say-this-stock">rising U.S.-China trade tensions.</a> Trump&#8217;s 10% tariff on Chinese-made goods poses a significant challenge, as China remains Apple's primary manufacturing hub, and the U.S., is its largest market.
According to an analyst at Bank of America, the <a href="https://www.benzinga.com/markets/equities/25/02/43839627/apple-may-hike-iphone-prices-by-9-due-to-trumps-tariffs-says-bank-of-america">iPhone maker will need to hike prices</a> on iPhones, iPads, and other products by approximately 9% to counter the effect of tariffs. assuming a minimum 10% tariff applies to all of them. The analyst also expects a potential hit on the sales volume.
On Wednesday, Apple unveiled the iPhone 16e, <a href="https://www.benzinga.com/tech/25/02/43820197/apple-unveils-iphone-16e-with-a18-chip-ai-features-599-price-tag">a budget-friendly successor</a> to the third-generation iPhone SE. Priced at $599, the device is designed to run artificial intelligence efficiently.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
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Disclaimer:&nbsp;This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo courtesy: Shutterstock

Tim Cook Reportedly Tells Trump Apple Will Invest 'Hundreds Of Billions' In US: 'They Don't Want To Be In The Tariffs'

Elon Musk&#8217;s unsolicited $97 billion bid for OpenAI&#8216;s assets has created a valuation challenge for the artificial intelligence leader, potentially complicating its planned transition to a for-profit structure.
Legal experts suggest the offer, <a href="https://www.benzinga.com/25/02/43755069/openai-board-rejects-elon-musks-97-billion-acquisition-proposal-days-after-sam-altman-calls-it-a-move-to-slow-down-a-competitor#:~:text=OpenAI%20Board%20Rejects%20Elon%20Musk's,Slow%20Down'%20A%20Competitor%20%2D%20Benzinga">though swiftly rejected</a>, could force regulators to scrutinize OpenAI&#8217;s corporate restructuring more closely. The bid &#8220;will be more difficult to justify valuing the nonprofit&#8217;s assets at less than $97 billion if there is a concrete offer for that sum,&#8221; <a href="https://www.economist.com/business/2025/02/11/elon-musks-97bn-offer-is-a-headache-for-sam-altmans-openai">according to a report by The Economist</a>.
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Musk, OpenAI&#8217;s co-founder and now rival, submitted the bid through a consortium on Feb. 11, targeting the non-profit entity that controls the company. The move escalates his feud with CEO Sam Altman over the company&#8217;s shift toward a more traditional corporate structure.
&#8220;OpenAI is not for sale,&#8221; company spokesman Chris Lehane told The Economist.
The timing appears strategic, as OpenAI reportedly seeks to <a href="https://www.benzinga.com/media/25/01/43374528/softbank-may-lead-openais-40-billion-funding-round-at-a-300-billion-valuation-despite-deepseek-disruption-report">raise approximately $40 billion from investors, including SoftBank</a>. Musk&#8217;s bid could potentially disrupt the fundraising efforts by raising questions about proper valuation during the company&#8217;s restructuring.
Trending: <a href="https://www.benzinga.com/money/are-you-rich">Are you rich?</a> Here&#8217;s what Americans think you need to be considered wealthy.
Jill Horwitz, law professor at the University of California, Los Angeles, said that the nonprofit board&#8217;s fiduciary duty is to act according to OpenAI&#8217;s legal purpose—building safe artificial intelligence that &#8220;benefits all of humanity.&#8221; The mission-focused obligation may provide flexibility in responding to acquisition offers.
Musk&#8217;s legal team has urged attorneys general in California and Delaware, where OpenAI operates, to ensure the nonprofit surrenders control at fair market value during any restructuring.&nbsp;
While company insiders doubt state officials will acquiesce to Musk, Horwitz noted they have &#8220;clear law to apply&#8221; regarding proper valuation.
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
The bid follows recent tensions over the &#8220;Stargate Project,&#8221; a $100 billion data center investment fund announced by Altman and President Donald Trump on Jan. 21. Musk publicly questioned whether the project&#8217;s backers had sufficient funding, allegations they denied.
Altman responded to Musk&#8217;s bid with a facetious counteroffer on X—$9.7 billion to &#8220;buy Twitter,&#8221; as Musk&#8217;s social network was previously known. &#8220;I think he&#8217;s just trying to slow us down,&#8221; <a href="https://www.bloomberg.com/news/videos/2025-02-11/altman-says-musk-probably-just-trying-to-slow-us-down-video">Altman told Bloomberg</a>. &#8220;I feel for the guy. I don&#8217;t think he&#8217;s a happy person.&#8221;
The offer represents another front in Musk&#8217;s competitive strategy against his largest AI rival. He launched xAI in 2023, positioning it as a direct competitor to OpenAI.
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Experts Say Musk's $97 Billion Offer Could Force OpenAI To Reassess Its Value

Trading Halt: Halted at 7:50:00 p.m. ET - Trading Halt: Halt News Pending

SXTP

ALPS ETF Trusthen & Steers Global Realty Majors ETF

SXTPW

A top Democrat warned last week that the White House's  government efficiency team could disrupt tax refund processing as representatives <a href="https://www.benzinga.com/25/02/43754316/irs-gears-up-to-lay-off-thousands-of-workers-potentially-impacting-tax-season-no-analysis-to-the-impact-it-will-have-on-operations">began examining Internal Revenue Service operations during peak filing season</a>.
Gavin Kliger, a member of the Department of Government Efficiency that is being led by Elon Musk, visited IRS headquarters in Washington on Feb. 13, requesting detailed information about agency operations and staffing, <a href="https://www.cnn.com/2025/02/13/politics/doge-visits-the-irs-putting-staffers-on-edge/index.html">according to CNN</a>.
&#8220;My office is hearing that DOGE is now at the IRS. That means Musk&#8217;s henchmen are in a position to dig through a trove of data about every taxpayer in America. And if your refund is delayed, they could very well be the reason,&#8221; Sen. Ron Wyden (D-OR) <a href="https://x.com/RonWyden/status/1890114168583565673">wrote on X</a>.
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The visit marks the efficiency department&#8217;s first direct engagement with the tax agency, which employs approximately 100,000 workers. According to CNN, Kliger requested information about each business unit&#8217;s responsibilities and risk factors.
An email shared with CNN that was sent to IRS employees during the visit instructed staff to route queries about &#8220;high-profile visitors&#8221; through proper channels, noting the matter had been &#8220;elevated to Treasury&#8221; for further instruction.
President Donald Trump authorized the IRS review earlier in the day on Feb. 13, telling reporters, &#8220;the Internal Revenue Service will be looked at like everybody else.&#8221; When asked if he expected the agency to be closed, Trump responded: &#8220;No, I don&#8217;t expect it. But I think the Internal Revenue Service will be looked at like everybody else.&#8221;
Trending: Can you guess how many Americans successfully retire with $1,000,000 saved?<a href="https://www.benzinga.com/money/1milsaved"> The percentage may shock you</a>.
The audit follows an <a href="https://x.com/elonmusk/status/1886847092888310231?lang=en">informal poll on X</a> where Musk asked followers if they favored reviewing the IRS. The poll showed 91.2% support among respondents. The billionaire issued a poll earlier in December <a href="https://www.benzinga.com/personal-finance/24/12/42380263/elon-musk-asks-if-irs-funding-should-be-deleted-more-than-60-of-respondents-said-yes#:~:text=Billionaire%20entrepreneur%20Elon%20Musk%20sparked,delete%22%20the%20agency's%20funding%20entirely.">calling for the IRS to be "deleted,"</a> which saw 60.4% of respondents agree with the proposition.
House Ways and Means Committee Chairman Jason Smith (R-MO) embraced the scrutiny <a href="https://waysandmeans.house.gov/2025/02/13/chairman-smith-business-as-usual-at-the-irs-is-unacceptable/">in a letter</a> to Acting IRS Commissioner Douglas O&#8217;Donnell. &#8220;Business as usual at the IRS is unacceptable,&#8221; Smith wrote. &#8220;Our government has not been working effectively for the American people, and it needs to change.&#8221;
See Also: <a href="https://www.benzinga.com/money/elon-musk-told-the-u-n-if-they-could-show-a-plan-for-ending-world-hunger-hed-donate-6-billion-i-will-sell-tesla-stock-right-now-and-do-it">Elon Musk Told The U.N. If They Could Show A Plan For Ending World Hunger He'd Donate $6 Billion – ‘I Will Sell Tesla Stock Right Now And Do It'</a>
The IRS already faces hiring restrictions under Trump&#8217;s Jan. 20 executive order freezing federal employment. While the broader hiring freeze expires after 90 days, <a href="https://www.whitehouse.gov/presidential-actions/2025/01/hiring-freeze/">the order</a> says that IRS restrictions will remain until the treasury secretary determines &#8220;it is in the national interest to lift the freeze.&#8221;
No operational changes or layoffs have been announced. <a href="https://www.wsj.com/politics/policy/doge-internal-revenue-service-9697cb99#:~:text=Kliger%20doesn't%20have%20access,obtain%20or%20view%20taxpayer%20information.">The Wall Street Journal reported</a> that a source said Kliger did not access IRS computer systems or taxpayer information during his visit.
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Personal Finance

'If Your Refund Is Delayed, They Could Be The Reason,' Senator Sounds Alarm On Musk's IRS Audit

FirstCash Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FCFS#NASDAQ">FCFS</a>) has outperformed the market over the past 20 years by 3.64% on an annualized basis producing an average annual return of 11.97%. Currently, FirstCash Hldgs has a market capitalization of $5.13 billion. 
Buying $1000 In FCFS: If an investor had bought $1000 of FCFS stock 20 years ago, it would be worth $9,482.00 today based on a price of $114.59 for FCFS at the time of writing.
<h3>FirstCash Hldgs's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740181511_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

FCFS

Here's How Much You Would Have Made Owning FirstCash Hldgs Stock In The Last 20 Years

Burlington Stores (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BURL#NYSE">BURL</a>) has outperformed the market over the past 10 years by 4.78% on an annualized basis producing an average annual return of 15.78%. Currently, Burlington Stores has a market capitalization of $14.84 billion. 
Buying $1000 In BURL: If an investor had bought $1000 of BURL stock 10 years ago, it would be worth $4,359.22 today based on a price of $233.80 for BURL at the time of writing.
<h3>Burlington Stores's Performance Over Last 10 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740180608_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

BURL

Here's How Much You Would Have Made Owning Burlington Stores Stock In The Last 10 Years

East West Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>) has outperformed the market over the past 5 years by 4.19% on an annualized basis producing an average annual return of 18.12%. Currently, East West Bancorp has a market capitalization of $13.00 billion. 
Buying $1000 In EWBC: If an investor had bought $1000 of EWBC stock 5 years ago, it would be worth $2,161.37 today based on a price of $93.89 for EWBC at the time of writing.
<h3>East West Bancorp's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740179709_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

EWBC

If You Invested $1000 In This Stock 5 Years Ago, You Would Have This Much Today

Costco Wholesale (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COST#NASDAQ">COST</a>) has outperformed the market over the past 15 years by 8.84% on an annualized basis producing an average annual return of 20.69%. Currently, Costco Wholesale has a market capitalization of $459.45 billion. 
Buying $100 In COST: If an investor had bought $100 of COST stock 15 years ago, it would be worth $1,697.61 today based on a price of $1035.03 for COST at the time of writing.
<h3>Costco Wholesale's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740178810_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

COST

$100 Invested In Costco Wholesale 15 Years Ago Would Be Worth This Much Today

Taiwan Semiconductor (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSM#NYSE">TSM</a>) has outperformed the market over the past 20 years by 8.72% on an annualized basis producing an average annual return of 17.04%. Currently, Taiwan Semiconductor has a market capitalization of $1.03 trillion. 
Buying $1000 In TSM: If an investor had bought $1000 of TSM stock 20 years ago, it would be worth $23,508.40 today based on a price of $198.00 for TSM at the time of writing.
<h3>Taiwan Semiconductor's Performance Over Last 20 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740177909_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

$1000 Invested In Taiwan Semiconductor 20 Years Ago Would Be Worth This Much Today

<a href="https://www.bloomberg.com/news/articles/2025-02-21/blackstone-nears-1-7-billion-deal-for-summit-backed-vaxcare" title="https://www.bloomberg.com/news/articles/2025-02-21/blackstone-nears-1-7-billion-deal-for-summit-backed-vaxcare">https://www.bloomberg.com/news/articles/2025-02-21/blackstone-nears-1-7-billion-deal-for-summit-backed-vaxcare</a>

'Blackstone Nears $1.7B Deal for Summit-Backed VaxCare' - Bloomberg News

Coca-Cola Consolidated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COKE#NASDAQ">COKE</a>) has outperformed the market over the past 15 years by 11.93% on an annualized basis producing an average annual return of 23.78%. Currently, Coca-Cola Consolidated has a market capitalization of $12.11 billion. 
Buying $100 In COKE: If an investor had bought $100 of COKE stock 15 years ago, it would be worth $2,484.92 today based on a price of $1382.86 for COKE at the time of writing.
<h3>Coca-Cola Consolidated's Performance Over Last 15 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2025/1740177024_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

COKE

Here's How Much You Would Have Made Owning Coca-Cola Consolidated Stock In The Last 15 Years

Cryptocurrency markets are trading lower on Friday after a $1.4 billion hack on Bybit dragged down the market.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>)</td>
<td>$95,385.38</td>
<td>-3.1%</td>
</tr>
<tr>
<td>Ethereum (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/eth/usd">ETH</a>)</td>
<td>$2,634.96</td>
<td>-4.3%</td>
</tr>
<tr>
<td>Solana (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/sol/usd">SOL</a>)</td>
<td>$168.78</td>
<td>-3.5%</td>
</tr>
<tr>
<td>XRP (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/xrp/usd">XRP</a>)</td>
<td>$2.52</td>
<td>-6.9%</td>
</tr>
<tr>
<td>Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>)</td>
<td>$0.2400</td>
<td>-5.6%</td>
</tr>
<tr>
<td>Shiba Inu (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/shib/usd">SHIB</a>)</td>
<td>$0.00001494</td>
<td>-4%</td>
</tr>
</tbody>
</table>
</figure>
Notable Statistics:
<ul>
<li>IntoTheBlock data shows large transaction volume increasing by 12.3% and daily active addresses growing by 4%. Transactions greater than $100,000 are up from 9,587 to 9,988 in a single day. Exchanges netflows are up by 105.3%.</li>
<li>Coinglass data reports 188,950 traders were liquidated in the past 24 hours for $551.47 million.</li>
</ul>
Notable Developments:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43886224/bybit-founder-confirms-1-4-billion-ethereum-hack-blames-masked-transaction">Bybit Founder Confirms $1.4 Billion Ethereum Hack, Blames &#8216;Masked&#8217; Transaction</a></li>
<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43883117/coinbase-ceo-brian-armstrong-says-sec-has-agreed-to-end-bogus-enforcement-case-without-penalties">Coinbase CEO Brian Armstrong Says SEC Has Agreed To End &#8216;Bogus&#8217; Enforcement Case Without Penalties</a></li>
<li><a href="https://www.benzinga.com/trading-ideas/movers/25/02/43887659/coinbase-shares-rise-as-sec-moves-to-drop-lawsuit-whats-going-on">Coinbase Shares Rise As SEC Moves To Drop Lawsuit: What&#8217;s Going On?</a></li>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/25/02/43878748/michael-saylor-bitcoin-is-economic-armor-calls-on-us-to-accumulate-btc">Michael Saylor: &#8216;Bitcoin Is Economic Armor&#8217;, Calls On US To Accumulate BTC</a></li>
<li><a href="https://www.benzinga.com/25/02/43876426/new-fbi-director-kash-patel-holds-over-100000-in-bitcoin-etfs-has-significant-exposure-to-btc-miner-core-scientific">New FBI Director Kash Patel Holds Over $100,000 In Bitcoin ETFs, Has Significant Exposure To BTC Miner Core Scientific</a></li>
</ul>
Top Gainers:
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Cryptocurrency</td>
<td>Price&nbsp;&nbsp;&nbsp;</td>
<td>Gains +/-</td>
</tr>
<tr>
<td>Story (CRYPTO: IP)</td>
<td>&nbsp;$4.51</td>
<td>+17.8%</td>
</tr>
<tr>
<td>Jito (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/">JTO</a>)</td>
<td>&nbsp;$3.04</td>
<td>+11.7%</td>
</tr>
<tr>
<td>Bitget Token (CRYPTO: BGB)</td>
<td>&nbsp;$4.67</td>
<td>+3%</td>
</tr>
</tbody>
</table>
</figure>
Trader Notes: More Crypto Online <a href="https://x.com/Morecryptoonl/status/1892996131896074459">noted</a> that Bitcoin has confirmed a local top, aligning with broader market trends. The price failed to sustain above the Feb. 14 high. For a bullish continuation, it should hold above $94,645 in this potential wave 2. The key invalidation level is $93,450.
Crypto trader CJ explained Bitcoin has tagged last week&#8217;s high and low. It provided clean trades on both sides of the range. The trader awaits to see if mid-range demand holds. Ideally, BTC ranges through the weekend.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true"><a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> Previous week high and low tagged. Both sides of the range produced a very clean trade. Let&#39;s see if the mid-range demand holds or not. Ideally just range for the weekend. Notable strength on a couple alts here e.g. ENA &#x1f37f; <a href="https://t.co/d8TtHjecRz">pic.twitter.com/d8TtHjecRz</a>
&mdash; CJ (@CJ900X) <a href="https://twitter.com/CJ900X/status/1893001814422802655?ref_src=twsrc%5Etfw">February 21, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
Crypto trader Jelle reaffirmed his expectations and <a href="https://x.com/CryptoJelleNL/status/1893015465988944344">predicts</a> that market looks good for a strong end to the month.
Read Next:&nbsp;
<ul>
<li><a href="https://in.benzinga.com/markets/cryptocurrency/25/02/43889897/bitcoin-strategic-reserve-with-1-million-btc-could-offset-21-trillion-national-debt">Bitcoin Reserve With 1 Million BTC Could Offset $21 Trillion National Debt By 2049, Expert Says</a></li>
</ul>
Image: Shutterstock

$BGB

$BTC

$DOGE

$ETH

$JTO

$SHIB

$SOL

$XRP

Bitcoin, Ethereum, XRP, Dogecoin See Friday Blues After Massive $1.4 Billion Bybit Hack

<h2 class="wp-block-heading">Introduction</h2>



Building an income-focused portfolio can be tricky. Sometimes we have to sacrifice immense upside price potential for our desired income — especially when it comes to those high-octane growth stocks.



Lucky for us, over the last few years industry incumbents have introduced covered call option strategy ETFs for nearly every high-flying index out there — Nasdaq-100, Russell 2000, etc.



However, it wasn't until recently that an income-focused alternative to these high-flying spot Bitcoin ETFs came about. As an income-focused investor, the <a href="https://neosfunds.com/btci/" target="_blank" rel="noreferrer noopener nofollow">NEOS Bitcoin High Income ETF (BTCI)</a> is my favorite way to own Bitcoin.



By offering its investors a 28% annual distribution yield, this ETF is the best way to own Bitcoin in your portfolio if you care about both monthly income and potential price appreciation in rising markets.



In this analysis, I'm going to…



<ul>
<li>Walk you through BTCI&#8217;s investment strategy</li>



<li>Reflect upon its performance since inception</li>



<li>Suggest where it might fit inside of your income-focused portfolio</li>
</ul>



Let's dig in!



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h2 class="wp-block-heading">BTCI&#8217;s Investment Strategy</h2>



The NEOS Bitcoin High Income ETF (BATS:<a class="ticker" href="https://www.benzinga.com/stock/BTCI#BATS">BTCI</a>) seeks to distribute monthly income generated from writing call options on Bitcoin via Bitcoin index options — which seems to be the first ETF to do so. Given Bitcoin's historically high volatility, the management team is able to write out-of-the-money call options that don't cover the entire value of the portfolio. This means BTCI's price has the opportunity to move up and down with the price of Bitcoin.



For example, as of 1/13/25 the fund left 22% of its notional value "uncapped." In this scenario, that means 22% of the fund's value can move freely alongside the price of Bitcoin — unburdened by the "cap" of the premium income generated by writing call options.



This specific strategy is important for two reasons:



<ol>
<li>The Achilles heel of these covered call ETFs that could cause them to underperform their benchmark index is writing covered call options against the entirety of the portfolio. When you do this, the ETF's performance is capped by the total amount of premium generated during the month. If you're writing a covered call option contract 3-5% out-of-the-money, once the price of the ETF appreciates beyond that strike price you're technically "losing money."</li>



<li>To address this problem, the NEOS Bitcoin High Income ETF only writes against a portion of the notional value of the portfolio. We know Bitcoin is a very volatile asset — moving up by +39% during the month of November alone. The fund's management team wants to ensure investors can realize moves like that, while pursuing the primary objective of high monthly income.</li>
</ol>



But is this strategy actually working?



Let's analyze the fund's performance since inception and find out.



<hr class="wp-block-separator has-alpha-channel-opacity"/>



<h2 class="wp-block-heading">BTCI&#8217;s Performance Since Inception</h2>



The NEOS Bitcoin High Income ETF began trading on October 18, 2024. The fund began trading at $50 / share, while the price of Bitcoin was ~$68,000.



As of 1/13/25, the price of Bitcoin has appreciated by +39.7% to ~$95,000 per coin. During the same period of time, BTCI's total return was +31.5% — capturing nearly ~80% of Bitcoin's total return while paying their investors monthly income.



Since inception, the fund has paid investors $4.00 in cash distributions. $1.13 per share in October, $1.41 per share in November, and $1.46 per share in December. Assuming you purchased shares of BTCI at $50 / share — that's an 8% yield paid to investors in only 3-months time.



As of its most recent $1.46 per share distribution in December, the fund is offering investors a 28% annual yield — while simultaneously giving investors the opportunity to realize Bitcoin's price appreciation. The price of BTCI has already appreciated by +20% since inception in October.



As an income-focused investor, this ETF is exceeding expectations. If you're someone who's a bit intimidated by Bitcoin volatility, having that monthly income certainly helps. For example, the total return of BTCI during the month of December was -2.4%, compared to the total return of the price of Bitcoin being -4.3% — a +1.9% difference.



If you can stomach Bitcoin's volatility, more power to you!



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<h2 class="wp-block-heading">Where BTCI Might Fit Inside of Your Income-Focused Portfolio</h2>



Being an income-focused investor has its perks — the names we usually hold inside of our portfolios tend to have resilience during market downturns, we get paid tax-efficient cash on a monthly / quarterly basis, and dividend growth stocks tend to outperform benchmark indices over a long enough time horizon.



However, this investment strategy also has its drawbacks — including the lack of high-octane investment opportunities.



With that being said, I'd argue two things are true:



<ol>
<li>Being an income-focused investor doesn't have to be boring. There are plenty of tax-efficient covered call ETFs that closely track the total performance of the S&amp;P 500, Nasdaq-100, and Russell 2000 — specifically SPYI, QQQI, and IWMI — that offer double-digit annual distribution yields and upside price potential in rising markets.</li>



<li>Everyone should allocate 5-15% of their investment portfolio to Bitcoin, as this asset class over the last 15-years has proven to outperform the stock market over a long enough time horizon.</li>
</ol>



Now that the team over at NEOS has introduced a covered call Bitcoin ETF whose strategy both offers high monthly income and price appreciation in rising markets, there's no excuse to stay on the sidelines.



Personally, I've been a Bitcoin investor since 2017.



Now as I shift my focus away from high-octane opportunities and instead toward income-focused ideas — BTCI is how I will continue to have a ~10% allocation to the evolving asset class throughout my wealth building journey.



In my opinion, it's the best of both worlds.



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Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. I/we have a beneficial long position in the shares of BTCI, SPYI, QQQI, and IWMI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it. I have no business relationship with any company whose stock is mentioned in this article. Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor.

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