New ETF proposal bets Bitcoin returns are made after hours

cointelegraph2025-12-09 tarihinde yayınlandı2025-12-09 tarihinde güncellendi

Özet

A new ETF proposal from Tidal Trust, in partnership with Nicholas Wealth Management, aims to capture Bitcoin's after-hours price movements. The Nicholas Bitcoin and Treasuries AfterDark ETF would buy Bitcoin at the U.S. market close and sell around the open, holding it overnight. During the day, the fund would invest in U.S. Treasuries and cash equivalents to avoid daytime volatility. The strategy is based on analysis showing significant Bitcoin gains occur outside regular trading hours. The filing is pending SEC review. Separately, U.S. spot Bitcoin ETFs saw record outflows of $4 billion in November.

A new regulatory filing by Tidal Trust has proposed listing and trading an exchange-traded fund that will hodl Bitcoin during off-market hours.

In a Tuesday filing with the US Securities and Exchange Commission, Tidal Trust II filed a Form N-1A registration statement to add two Nicholas Wealth Management ETFs tied to Bitcoin (BTC) to its existing fund.

The offerings, which included the Nicholas Bitcoin and Treasuries AfterDark ETF, would only buy BTC when US market trading hours began and sell it at closing, effectively hodling through the night.

“When utilizing Bitcoin Futures, the Fund trades these instruments during US overnight hours and closes them out shortly after the US market opens each trading day,” said the SEC filing. “When utilizing Bitcoin Underlying Funds, the Fund purchases a security at US market close, and then sells the position around US market open, thereby capturing any market movement that occurred during US overnight hours.”

Tuesday SEC filing for ‘AfterDark’ Bitcoin ETF. Source: SEC

The asset management company said that the ETF would allocate its assets to “US Treasuries, money market funds and other cash equivalents” during daytime hours. Such an investment strategy would effectively allow traders to avoid dealing with some of the potential price volatility with indirect exposure to Bitcoin.

“We looked at this last year and found most of the gains are in fact after hours,” said ETF analyst Eric Balchunas in response to the filing. “Doesn’t mean the ETFs aren’t having impact. Some of this is positioning [because] of the ETFs etc or derivatives based on flows etc etc. But yeah, Bitcoin After Dark ETF could put up better [returns].”

Related: Bitcoin’s back above $94K: Is the BTC bull run back on?

The filing does not guarantee approval by the SEC and may be subject to change. The regulator has given the green light to many crypto-tied investment vehicles, including Bitcoin and Ether (ETH) futures ETFs, spot digital asset ETFs, and staked crypto ETFs.

Record outflows from US spot Bitcoin ETFs in November

Spot Bitcoin ETFs listed on US exchanges hit record outflows in November, with about $4 billion withdrawn. BlackRock’s iShares Bitcoin Trust and Fidelity’s Wise Origin Bitcoin Fund led the redemptions as two of the largest ETFs on the market.

Magazine: When privacy and AML laws conflict: Crypto projects’ impossible choice

İlgili Okumalar

South Korea’s Stablecoin Legislation Hits Roadblock As FSC Misses December 10 Deadline

South Korea's government has missed the December 10 deadline to submit its stablecoin legislation, the second phase of the Virtual Asset User Protection Act. The delay stems from a disagreement between the Financial Services Commission (FSC) and the Bank of Korea (BOK) over the role of banks in issuing won-pegged stablecoins. The BOK insists a bank consortium must own at least 51% of any issuer, while the FSC wants to involve diverse players, including tech firms, to foster innovation. This impasse risks prolonging the legislative process. Multiple rival bills have already been proposed in the National Assembly, with key differences including whether to allow interest payments on stablecoins, a practice the FSC chairman has stated will be "fundamentally prohibited."

bitcoinist33 dk önce

South Korea’s Stablecoin Legislation Hits Roadblock As FSC Misses December 10 Deadline

bitcoinist33 dk önce

Digital Asset Vaults Lose Their Luster: Twenty One's Stock Plunges 20% on First Trading Day

Twenty One Capital, a Bitcoin-focused treasury company backed by Tether and SoftBank, saw its shares plunge approximately 20% on its first day of trading on the New York Stock Exchange. The sharp decline reflects investor skepticism toward the valuation and business model of Bitcoin treasury companies amid a significant cryptocurrency market downturn. The company, led by 31-year-old CEO Jack Mallers, holds around 43,500 BTC. However, Bitcoin holdings have fallen over 25% since October’s all-time high near $126,000, putting pressure on the "digital asset treasury" (DAT) model. Despite its large Bitcoin reserve and strong backers, investors remain cautious due to unclear revenue paths and heavy reliance on Bitcoin’s volatile price. Twenty One went public via a merger with SPAC Cantor Equity. Unlike traditional companies, its valuation is almost entirely tied to its Bitcoin holdings, using metrics like "Bitcoin per Share" (BPS). Yet, the firm has not detailed how it will generate sustainable profits beyond holding Bitcoin. The sell-off reflects broader pressures on crypto-linked stocks. Other Bitcoin-heavy companies like Metaplanet, Trump Media, and Empery Digital also face millions in unrealized losses and falling share prices as Bitcoin corrects. The debut underscores high volatility and valuation risks in crypto investing. Despite innovation and institutional support, long-term viability requires transparent business models and clear profitability strategies—lessons even high-profile crypto firms must heed.

cointelegraph_中文34 dk önce

Digital Asset Vaults Lose Their Luster: Twenty One's Stock Plunges 20% on First Trading Day

cointelegraph_中文34 dk önce

Do Kwon sentenced to 15 years in U.S. federal prison — LUNA price spikes, then pulls back

Terraform Labs co-founder Do Kwon has been sentenced to 15 years in U.S. federal prison for his role in the $40 billion TerraUSD/LUNA collapse, one of the most severe punishments in a crypto fraud case. The judge cited "extraordinary financial and human harm" caused by the scheme, which led to significant investor losses. Kwon will also forfeit over $19 million. Following the sentencing, LUNA’s price spiked from $0.08 to over $0.24 before retracing to around $0.17, reflecting speculative, sentiment-driven trading rather than fundamental recovery. The case remains open for further regulatory and civil actions.

ambcrypto40 dk önce

Do Kwon sentenced to 15 years in U.S. federal prison — LUNA price spikes, then pulls back

ambcrypto40 dk önce

Markets React Sharply as Fed’s Rate Cut Triggers Unexpected Sell-Off Across Major Crypto Assets

Markets reacted sharply to the Fed’s widely anticipated 25-basis-point rate cut, which triggered a significant crypto sell-off. Despite the cut, the Fed’s cautious tone and internal disagreements created uncertainty, with Chair Powell suggesting a potential pause in January. Projections indicated fewer future cuts than markets expected. Crypto reversed gains quickly, with total market cap falling 3% in 24 hours. Bitcoin dropped below $90,000, Ethereum fell over 3%, and altcoins saw deeper losses. Over $1 billion in leveraged positions were liquidated, and technical indicators turned bearish. Traders now await the PCE inflation report for further direction, as the market faces tighter liquidity and heightened macro sensitivity.

bitcoinist41 dk önce

Markets React Sharply as Fed’s Rate Cut Triggers Unexpected Sell-Off Across Major Crypto Assets

bitcoinist41 dk önce

İşlemler

Spot
Futures
活动图片