Wall Street Files New Bitcoin ETF That Trades Only After Dark#

Wall Street is experimenting with a new way to trade Bitcoin — after the stock market closes. A newly filed Bitcoin ETF aims to track BTC’s overnight price moves, a period that has quietly delivered some of the asset’s strongest returns over the years.

The idea behind the “after-dark” ETF is simple but unconventional. Instead of trading during regular U.S. market hours, the fund would focus on Bitcoin’s performance when traditional markets are closed — evenings, nights, and early mornings. Historically, Bitcoin has often made sharp moves during these hours, driven by global liquidity, Asian and European trading sessions, and crypto-native market activity.

Supporters say this approach allows investors to isolate Bitcoin’s most productive time window, potentially reducing exposure to daytime volatility tied to U.S. macro news, stocks, and bond markets. It also caters to traders who believe Wall Street’s influence distorts crypto price discovery during regular hours.

Critics, however, warn that limiting exposure to overnight sessions could increase risk, as liquidity is thinner and price swings can be more extreme. Others see it as financial engineering rather than a long-term investment solution.

Still, the filing highlights how creative ETF structures are becoming as traditional finance races to package Bitcoin in new ways. Whether it succeeds or not, one thing is clear: Wall Street isn’t done experimenting with crypto yet.