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A new regulatory filing by Tidal Trust proposes launching an innovative exchange-traded fund (ETF) designed to hold Bitcoin exclusively outside of US market trading hours. Filed with the US Securities and Exchange Commission (SEC), the Form N-1A registration introduces two Nicholas Wealth Management ETFs, including the Nicholas Bitcoin and Treasuries AfterDark ETF, intended to trade Bitcoin after the market closes and sell it when the market opens the next day.

According to the filing, when using Bitcoin Futures, the fund trades only during US overnight hours, closing positions shortly after the market opens. For Bitcoin Underlying Funds, the ETF buys at market close and sells at market open, aiming to capture price movements occurring overnight. During the daytime, assets are allocated to US Treasuries, money market funds, and other cash equivalents.

This strategy provides investors with indirect exposure to Bitcoin while potentially avoiding some intraday price volatility. ETF analyst Eric Balchunas noted that most Bitcoin gains happen after hours, suggesting that such an after-hours focused ETF could deliver stronger returns.

While approval from the SEC is not guaranteed, the regulator has recently approved various crypto-related ETFs, including Bitcoin and Ether futures, spot digital assets, and staked crypto ETFs.

Read more: https://cointelegraph.com/news/bitcoin-afterdark-etf-overnight-market-hours

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New ‘AfterDark’ Bitcoin ETF Aims to Capture Profits from Overnight Crypto Moves