On Dec. 9, Nicholas Financial Corporation filed paperwork with the United States Securities and Exchange Commission (SEC) for the Nicholas Bitcoin and Treasuries AfterDark ETF, a product designed to hold Bitcoin-linked exposure only during overnight hours, exiting positions before the U.S. market opens. The strategy is built around the idea that Bitcoin’s strongest price action tends to occur outside traditional Wall Street trading hours, particularly overnight when U.S. equity markets are closed and glob ...

A company called Tidal Trust II filed an application with the Securities and Exchange Commission on Tuesday for an exchange-traded fund that would only offer Bitcoin exposure when U.S. markets are closed. The fund, dubbed the Nicholas Bitcoin and Treasuries AfterDark ETF, would also hold short-term U.S. Treasuries during the day, according to the filing. As a result, the ETF would mirror Bitcoin’s overnight return profile, for investors based in the U.S. Unlike spot Bitcoin ETFs, which were approved last ye ...