Bloomberg Analyst: Bitcoin's overnight ETF listing sees a surge in trading volume the next day, competing with MSBT.

CoinNetwork · 2026-04-10T14:45:47+00:00

Bloomberg ETF analyst Eric Balchunas pointed out that the “Bitcoin After Dark ETF” ($NGHT), which focuses on “overnight returns,” was listed simultaneously with the regular Bitcoin ETF ($MSBT). Although trading volume on the first day was lackluster, it rose significantly on the next day. He warned that ETFs built on abnormal premium strategies face the risk of premium decay, and that the future survival of $NGHT will depend on its actual yield performance.

CoinNetwork

2026-04-10 14:45:47

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Crypto news, Bloomberg ETF analyst Eric Balchunas posted that the The Bitcoin After Dark ETF($NGHT), which focuses on the “overnight yield” strategy, has launched simultaneously with the regular Bitcoin ETF($MSBT) this Wednesday. Data shows that $NGHT’s first-day trading volume was flat, but it saw a significant increase the next day. Balchunas stated that Bloomberg research indicates Bitcoin’s historical returns are mainly concentrated during nighttime hours, but long-term holders of regular ETFs like $MSBT have actually automatically gained 24/7 returns. He warned that ETFs based on specific abnormal premium strategies often face the risk of premium decay after listing (similar to the previously failed S&P 500 overnight ETF). Whether $NGHT can survive in the future will depend entirely on whether its actual performance can attract capital inflows, while $MSBT is destined for commercial success thanks to its strong distribution channels.

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