XFUNDS launched the NGHT ETF, buying Bitcoin in after-hours and shifting to cash/Treasuries during US trading hours. Meanwhile, Morgan Stanley debuted its spot Bitcoin ETF MSBT with a 0.14% fee; analyst sees $5B AUM in first year. Bitcoin ETF inflows hit $471M in a day.

XFUNDS has launched NGHT, an actively managed bitcoin ETF designed to capture overnight return patterns by rotating into bitcoin-linked derivatives after hours and short-term Treasuries during the day, amid rising pressure from low-fee, full-exposure rivals.

XFUNDS has launched NGHT, an actively managed ETF that targets bitcoin-linked exposure overnight and shifts into short-term Treasuries during the day. The fund enters a crowded market where low-fee, full-cycle bitcoin ETFs may be easier for investors to justify.

XFUNDS has launched NGHT, an actively managed ETF that seeks to capture bitcoin’s overnight return profile and rotate into short-term Treasuries during the day. The product enters a crowded market where low-fee, full-exposure bitcoin ETFs already offer continuous access to the same asset class.