ETF analyst Eric Balchuas said there was a chance that such an investment vehicle “could put up better [returns]” based on BTC price moves after trading hours.
A new regulatory filing by Tidal Trust has proposed listing and trading an exchange-traded fund that will hodl Bitcoin during off-market hours.
In a Tuesday filing with the US Securities and Exchange Commission, Tidal Trust II filed a Form N-1A registration statement to add two Nicholas Wealth Management ETFs tied to Bitcoin (BTC) to its existing fund.
The offerings, which included the Nicholas Bitcoin and Treasuries AfterDark ETF, would only buy BTC when US market trading hours began and sell it at closing, effectively hodling through the night.
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Strive, co-founded in 2022 by American entrepreneur Vivek Ramaswamy, launched a $500 million preferred stock offering to acquire more Bitcoin and Bitcoin-related products. Publicly traded asset manager and Bitcoin treasury company Strive has announced a $500 million stock sales program to raise funds for additional BTC purchases.The firm, which was co-founded in 2022 by American entrepreneur and politician Vivek Ramaswamy, stated on Tuesday that it intends to use the net proceeds from the sale for “general corporate purposes, including, among other things, the acquisition of Bitcoin and Bitcoin-related products and for working capital.”It also intends to purchase “income-generating assets” to grow the company’s business, but did not specify which. Read more