New XFUNDS ETF toggles between bitcoin overnight and Treasuries by day
Why it matters: Morgan Stanley's NGHT ETF attracted $34 million on day one, signaling institutional interest in crypto exposure.
- NGHT ETF provides exposure to overnight Bitcoin price movements, switching to Treasuries during U.S. trading hours.
- Morgan Stanley launched this low-cost spot Bitcoin ETF to address increasing client demand for crypto, as reported by The Block.
- The ETF garnered $34 million in investments on its debut day, according to CoinDesk.
A new ETF, NGHT, offers investors exposure to overnight Bitcoin price swings by toggling between Bitcoin and less volatile Treasuries during U.S. trading hours. This launch by Morgan Stanley aims to meet growing client interest in crypto, attracting $34 million on its first day.
