Wealth management firm Nicholas Financial has filed an application with the SEC to launch a Bitcoin ETF named Nicholas Bitcoin and Treasuries AfterDark ETF (NGTH). The strategy is to hold Bitcoin only during the overnight hours after the US market closes and to sell all Bitcoin before the next day's 9:30 am US stock market opening, transferring the proceeds into short-term US Treasuries. This approach aims to avoid price volatility during US stock trading hours. The design is based on Veloxyz data showing that, over the past year, Bitcoin has generally performed better during US non-trading hours, while it is more prone to decline during US stock trading hours. (CoinDesk)

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