The Dark Secret: BTC Only Works After Hours
A boutique asset manager just filed the most genius—or craziest—ETF structure yet. Nicholas Financial Corporation wants to launch a fund that literally only holds Bitcoin exposure overnight. Analyst Eric Balchunas dubbed it the "Bitcoin After Dark" product.
This isn't a gimmick; it’s a strategy built on a decade of empirical data. Studies spanning 2015 to 2025 consistently show that $BTC generates a disproportionate share of its total gains during US market after-hours.
The fund's mechanism is simple: Buy $BTC at 4:00 p.m. ET (market close) and sell it at 9:30 a.m. ET (market open). During the day, the capital rotates into low-risk US Treasuries. This strategy aims to harvest the "nighttime alpha."
While this pattern is often attributed to thinner liquidity or overlapping Asian trading sessions, the trade-off is higher volatility. The fact that sophisticated financial products are now being designed purely to exploit this anomaly confirms that the night shift is where the real action happens for $BTC.This is not financial advice.
#CryptoETF #BTC #MarketStructure #Alpha
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