Crypto
U.S. asset manager XFUNDS launches ETF targeting bitcoin nighttime returns
U.S. asset manager XFUNDS has introduced an exchange-traded fund designed to take indirect exposure to bitcoin after the U.S. stock market closes, then shift into cash and short-term U.S. Treasuries during regular trading hours. The product, the Nicholas Bitcoin & Treasuries Afterdark ETF, trades under the ticker NGHT. The launch comes as competition in U.S. spot bitcoin ETFs shifts, with Morgan Stanley also debuting a lower-fee product.
