U.S. company Nicholas Financial plans to launch a Bitcoin ETF that will avoid U.S. trading hours

According to CoinDesk, boutique wealth management firm Nicholas Financial Corporation has submitted an application to the U.S. Securities and Exchange Commission (SEC) to launch a Bitcoin ETF that holds Bitcoin assets only during nighttime, completely avoiding U.S. trading hours. The fund, named Nicholas Bitcoin and Treasuries AfterDark ETF (ticker NGTH), will purchase Bitcoin at 4 PM Eastern Time (when U.S. markets close) and sell it the next day at 9:30 AM Eastern Time (before the market reopens).

During the daytime, the fund will invest in short-term U.S. Treasury bonds to preserve value and generate income. The company has also submitted application documents for a second product, the Nicholas Bitcoin Tail ETF (ticker BHGD). If approved, this ETF will add novelty to the growing ecosystem of Bitcoin investment products by making the timing of the day a key factor in its strategy.