Bitcoin ETF (BTC) News: Boutique Firm Nicholas Files for Fund Skipping U.S. Trading Hours

Nicholas Financial Corporation has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a novel Bitcoin ETF, the Nicholas Bitcoin and Treasuries AfterDark ETF (NGTH). This fund aims to exploit the observed trend of Bitcoin performing better when U.S. markets are closed. The ETF will purchase Bitcoin at 4 p.m. ET and sell by 9:30 a.m. ET, investing in short-term U.S. Treasuries during U.S. trading hours to preserve capital. Data from Velo.xyz and Bloomberg’s Eric Balchunas indicates that Bitcoin has shown stronger performance outside of regular U.S. market hours over the past year, potentially due to spot ETFs or derivatives positioning. The firm also filed for a second product, the Nicholas Bitcoin Tail ETF (BHGD).

(Source：CoinDesk)