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

MarsBitNews · 2026-04-10T12:30:28+00:00

Bloomberg analyst Eric Balchunas said that although the “overnight strategy” Bitcoin ETF performed only modestly, trading volume grew on the second day, and the outlook still remains to be seen. Historical data suggests that overnight returns outperform daytime returns, and long-term holders can therefore cover the returns from both. If NGHT sees strong capital inflows, or if it gains market recognition, it could do well; otherwise, it may be sidelined. Morgan Stanley’s Bitcoin ETF is still expected to succeed.

MarsBitNews

2026-04-10 12:30:28

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Mars Finance reports that 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 After Dark ETF (NGHT), a Bitcoin “Nighttime Strategy” exchange-traded fund, was also launched this Wednesday in parallel. Its trading performance on the first day was average, but trading volume increased significantly on the second day; its subsequent performance remains to be seen. Historical research shows that “nighttime returns” often outperform daytime returns, but for investors holding ETFs long term, holding products like MSBT can already capture both day and night returns, so the impact of the difference is limited. However, if NGHT’s subsequent capital inflows prove strong, it may gain market recognition; otherwise, it could quickly be sidelined. Meanwhile, the Morgan Stanley Bitcoin ETF is expected to achieve great success thanks to its channel distribution advantages.

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