Nicholas Financial has filed for the AfterDark Bitcoin ETF, designed for overnight trading, according to TheCCPress. The filing, submitted on December 9, 2025, outlines a strategy where the ETF will transition to U.S. Treasuries during daytime hours and allocate at least 80% to Bitcoin overnight. This innovative approach aims to capitalize on historical data indicating higher gains from overnight trades. The move is expected to impact trading volume patterns, potentially attracting more investors to the ETF. Nicholas Financial is partnering with Tidal Investments LLC and Nicholas Wealth for this venture. The timeline for SEC approval remains uncertain, leaving the market to anticipate further developments.