“The fund would hold bitcoin only overnight, betting on data showing bitcoin gains mostly occur outside regular market hours.”, — write: www.coindesk.com
They are, in fact, not imagining things.
Data from crypto analytics platform Velo.xyz shows that over the past year, bitcoin is more likely to be in the green when traditional US markets are closed and in the red when they’re open.
Bitcoin performance by the hour over last year (Velo.xyz)
Bloomberg’s Eric Balchunas said the data on better performance after US hours was similar for 2024 as well and suggests the spot ETFs or derivatives positioning could be having an impact.
Seeking to take advantage, Nicholas Financial Corporation, a boutique wealth management firm, has filed with the US Securities and Exchange Commission (SEC) to launch a bitcoin BTC$92,966.60 ETF that holds the asset only during overnight hours, opting out of the US trading day entirely.
The fund, called the Nicholas Bitcoin and Treasuries AfterDark ETF (NGTH), would buy bitcoin at 4 pm ET—when US markets close—and sell by 9:30 am ET the following day, before the markets reopen. During daytime hours, the fund would rotate into short-term US Treasuries to preserve capital and generate yield.
The firm also submitted paperwork for a second product, the Nicholas Bitcoin Tail ETF (BHGD).
If approved, the ETF would add a novel twist to the growing ecosystem of bitcoin investment products by treating time of day as a key factor in its strategy.
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- GoPlus Intelligence’s Token Security API averaged 717 million monthly calls year-to-date in 2025, with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
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XRP’s technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion
- XRP posts gains but underperforms compared to the broader digital asset surge, with below-average trading volume raising questions about the move’s strength.
- Bitcoin’s rise above $94,000 triggered a broad market rebound, leading to significant liquidations and reshuffling of positions.
- XRP’s technical outlook remains uncertain, with support at $2.05 and resistance at $2.17, as traders watch for volume expansion to confirm momentum alignment.
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