Core Insights - Wall Street is introducing a new ETF that focuses on trading bitcoin products during overnight hours while shifting to short-term US Treasuries during the day, aiming to leverage bitcoin's performance at night and its downturn during the day [2] Group 1: ETF Strategy - The proposed ETF, named Nicholas Bitcoin and Treasuries AfterDark ETF (NGHT), represents a blend of digital assets and traditional finance [2] - The strategy suggests that investors could achieve higher returns by trading bitcoin assets exclusively at night, with data indicating that holding the iShares Bitcoin ETF (IBIT) during after-hours trading would have resulted in a 222% performance increase since January of the previous year [3] Group 2: Market Environment - The regulatory environment for crypto strategies has become more favorable, with the SEC showing support for new spot crypto products, leading to a flourishing of various crypto funds [4] - The head of sector and industry research at VettaFi noted that the crypto industry is maturing, with advisors and investors recognizing the importance of diversification within the crypto space rather than solely making single asset bets [5] Group 3: Fund Performance - Other funds from the same company have experienced mixed results this year, with FIAX down 4%, GIAX declining by 11%, and BLOX losing 1% [6]