Tidal Trust Files for First Bitcoin AfterDark ETF to Capture Overnight Price Movements
- Tidal Trust has filed with the SEC for the Bitcoin AfterDark ETF, designed to hold Bitcoin only during U.S. non-trading hours.
- The ETF will buy BTC at market close and sell it the next morning, effectively holding it overnight.
- During the day, assets will be allocated to U.S. Treasuries and money-market funds, reducing exposure to risk.
- Eric Balchunas noted that historically, most of Bitcoin’s gains occur outside U.S. market hours, suggesting potential for higher returns.
- On December 9, Bitcoin reached $94,000 before stabilizing around $92,000 as traders anticipated a Federal Reserve interest-rate decision.
The proposed Bitcoin AfterDark ETF aims to capitalize on overnight price movements while managing risk through daytime investments in safer assets like U.S. Treasuries. This strategy could enhance returns if historical trends continue.
With BTC ETFs seeing $287.18 million in net inflows recently, the new product could attract significant interest from investors seeking exposure to Bitcoin during off-hours trading.(Source)
