A newly proposed exchange-traded fund would offer exposure to bitcoin, much like other popular ETFs tracking the world's oldest cryptocurrency. But, there's a twist: The fund would trade bitcoin-linked assets while Wall Street sleeps.

The Nicholas Bitcoin and Treasuries AfterDark ETF aims to purchase bitcoin-linked financial instruments after the U.S. financial markets close, and exit those positions shortly after the U.S. market re-opens each day, according to a December 9 filing to the Securities and Exchange Commission.

The fund would not hold bitcoin directly. Instead, the AfterDark ETF would use at least 80% of the value of its assets to trade bitcoin futures contracts, bitcoin exchange-traded products and ETFs, and options on those ETFs and ETPs.

The offering would capitalize on

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