New ETF proposal bets Bitcoin returns are made after hours

Tidal Trust II filed a Form N-1A registration statement with the SEC proposing the Nicholas Bitcoin and Treasuries AfterDark ETF. This fund is designed to only buy Bitcoin when US market trading hours end and sell it at the market open, effectively holding BTC overnight to capture returns made during off-market hours. During daytime hours, the ETF would allocate assets to US Treasuries and cash equivalents. ETF analyst Eric Balchunas noted that historical analysis suggests many Bitcoin gains occur after hours, implying this strategy could potentially yield better returns. The filing does not guarantee SEC approval, though the regulator has approved various other crypto-tied investment vehicles.

(Source：Cointelegraph)