Bloomberg senior ETF analyst Balchunas pointed out that when MSBT listing attracted attention, the overnight trading ETF NGHT was launched simultaneously this week. The first day performance was modest, with trading volume increasing significantly the next day, and the future trend remains to be seen. Research indicates that overnight returns are often better than daytime returns, but the difference for ETFs covering both day and night returns over the long term is limited; if NGHT experiences strong capital inflows or gains market recognition, it may stand out, otherwise it could be marginalized.

MeNews

2026-05-14 04:57:18

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ME News Report, April 10 (UTC+8), Bloomberg senior ETF analyst Eric Balchunas stated on the X platform that as the market focuses on the listing of the Morgan Stanley Bitcoin ETF MSBT, the Bitcoin "Night Strategy" Exchange-Traded Fund Bitcoin After Dark ETF (NGHT) was also launched simultaneously this Wednesday. The product's first-day trading performance was average, but trading volume significantly increased on the second day, and its future performance remains to be seen. Historical studies show that "nighttime returns" often outperform daytime returns, but for investors holding ETFs for the long term, holding products similar to MSBT can already cover both day and night returns, so the impact of the difference is limited. However, if NGHT experiences strong subsequent capital inflows, it may gain market recognition; otherwise, it could quickly become marginalized. Moreover, Morgan Stanley Bitcoin ETF is expected to achieve great success due to its channel distribution advantages. (Source: ChainCatcher)

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Bloomberg Analyst: Bitcoin "Day/Night" ETF Debuts on the Same Day, NGHT Rebounds but Future Performance Still to Be Seen

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