Nicholas Bitcoin & Treasuries AfterDark ETF filing on Dec. 9 targets 222% overnight edge over daytime losses

Filed on December 9, the Nicholas Bitcoin and Treasuries AfterDark ETF would trade only between the U.S. market close and the next day’s open. The fund would avoid spot Bitcoin and allocate at least 80% of its assets to futures, ETFs, ETPs and options. A backtest using a night‑only strategy on the iShares Bitcoin Trust ETF (IBIT) since January 2024 showed a 222% gain, compared with a 40.5% loss during daytime sessions, according to Bespoke Investment Group.