U.S. company submits "AfterDark" Bitcoin ETF, only holds Bitcoin when U.S. stock market is closed

According to Jinse Finance, Nicholas Financial has filed documents with the US SEC proposing to launch a new type of Bitcoin ETF called Nicholas Bitcoin and Treasuries AfterDark ETF (ticker: NGTH). This product will only purchase Bitcoin after the US stock market closes and sell it before the next day’s opening. If approved, this ETF will introduce a “time lag trading” strategy to Bitcoin investment products.

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