What does Nicholas Bitcoin and Treasuries AfterDark ETF invest in?▾
NGHT is an actively managed exchange-traded fund with the primary goal of capturing Bitcoin's returns during non-U.S. trading hours. To achieve this, the fund significantly reduces its Bitcoin exposure during the standard U.S. daytime trading session. This approach is rooted in the historical observation that Bitcoin's performance and volatility characteristics often differ substantially between night and day trading periods. The ETF does not directly hold Bitcoin. Instead, it leverages a Cayman Islands-based subsidiary to gain overnight exposure through various derivative instruments,...
