As per PANews, Nicholas Financial Corporation has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a Bitcoin ETF that holds the asset only during nighttime hours, avoiding U.S. trading sessions. The fund, named Nicholas Bitcoin and Treasuries AfterDark ETF (NGTH), will purchase Bitcoin at 4:00 PM Eastern Time (when U.S. markets close) and sell it at 9:30 AM Eastern Time the next day (before markets reopen). During the day, the fund will invest in short-term U.S. Treasury securities to preserve value and generate returns. The company also filed for a second product, the Nicholas Bitcoin Tail ETF (BHGD), which would add a new dimension to the growing Bitcoin investment product ecosystem by using time of day as a key strategy.
Nicholas Financial Plans Bitcoin ETF to Avoid U.S. Trading Hours
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