Getty Images For investors who have been unhappy with bitcoin’s recent returns, an actively-managed strategy could be appealing. Key Takeaways The proposed Nicholas Bitcoin and Treasuries AfterDark ETF aims to bottle the overnight performance of the cryptocurrency in an investment vehicle. Some research supports the premise of the strategy, but it may not consistently deliver excess returns. The early bird may get the worm. But does the night owl eat its lunch? That question is at the core of a pr ...