Proposed ‘AfterDark’ Bitcoin ETF Would Skip U.S. Trading Hours

Group 1 - Bitcoin prices tend to perform better when traditional U.S. markets are closed and worse when they are open, according to data from Velo.xyz [1] - The trend of better performance after U.S. trading hours is expected to continue into 2024, indicating potential impacts from spot ETFs or derivatives positioning [2] - Nicholas Financial Corporation has filed with the SEC to launch a bitcoin ETF that operates exclusively during overnight hours, avoiding the U.S. trading day [2][3] Group 2 - The proposed fund, named Nicholas Bitcoin and Treasuries AfterDark ETF (NGTH), plans to buy bitcoin at 4 p.m. ET and sell it by 9:30 a.m. ET the next day, rotating into short-term U.S. Treasuries during the day [3] - If approved, this ETF would introduce a unique strategy by considering the time of day as a critical factor in its investment approach [4]