New ETF Aims to Capture Bitcoin’s After-Hours Gains Without Holding BTC

An organization referred to as Tidal Belief II has utilized to launch an ETF that offers Bitcoin (BTC) publicity solely when US markets are closed. 

It might be referred to as the Nicholas Bitcoin and Treasuries AfterDark ETF. The concept is easy: through the buying and selling day, the fund would maintain short-term US Treasuries and, after hours, it might shift its publicity in order that its returns line up with Bitcoin’s in a single day efficiency.

Learn extra: Ripple’s US$500M Raise Attracts Wall Street Giants With Deal Offering Built-In Downside Protection

However the fund wouldn’t maintain precise Bitcoin. As an alternative, it might attempt to match Bitcoin’s strikes utilizing futures, index choices, and even positions in current spot Bitcoin ETFs. This construction follows the thought, highlighted by analysts, that a lot of Bitcoin’s historic upside has occurred outdoors common U.S. buying and selling hours. 

For instance, Bloomberg’s Eric Balchunas identified that the submitting reveals how far ETF issuers are prepared to go to supply new variations of Bitcoin-linked merchandise.

We checked out this final 12 months and located many of the positive aspects are in reality after hours. Doesn't imply the ETFs aren't having influence. A few of that is positioning bc of the ETFs and so on or derivatives based mostly on flows and so on and so on. However yeah, bitcoin After Darkish ETF might put up higher reutrns, we'll… pic.twitter.com/BTpV51cQfl

— Eric Balchunas (@EricBalchunas) December 9, 2025

Bitcoin Turns Bearish In US After Hours, For Some Cause

Current value motion has additionally fed curiosity on this theme. Bitcoin has typically bought off across the 9:30 a.m. ET market open, prompting folks on X to query why US hours appear to lean bearish. 

Feedback from crypto figures like Lark Davis have mirrored that sentiment. “Bitcoin dumping as soon as once more after the New York open. Did somebody disable the purchase button for People?” he said.

Tidal Financial Group markets itself as a supplier of white-label ETF merchandise, and the submitting options branding from “XFunds by Nicholas Wealth,” which presents its funds with humorous, old-Wall-Road imagery.

Associated: Vanguard Opens Crypto ETF Trading to 50 Million Clients

On the time of writing, Bitcoin traded round US$92,700, up 1.6% on the day however down practically 4% over the previous 12 months, based on knowledge from CoinGecko.

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