Bitcoin Overnight ETF Targets Off-Hours Price Movement Gains

Tidal Trust II has submitted regulatory paperwork for an exchange-traded fund called the Nicholas Bitcoin and Treasuries AfterDark ETF. This new product would focus on capturing overnight price movements in Bitcoin by purchasing exposure at U.S. market close and exiting positions after opening.

The SEC filing describes a strategy using both Bitcoin futures and underlying funds to capture potential gains during off-hours periods. Assets would rotate into U.S. Treasuries, money market funds, and cash equivalents during daytime trading, avoiding intraday volatility through indirect Bitcoin exposure.

ETF analyst Eric Balchunas noted that research shows most Bitcoin gains occur after traditional market hours. He suggested that an after-hours focused product could potentially deliver superior returns by concentrating on overnight price movements.