XFUNDS ETF NGHT switches to Bitcoin overnight
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- NGHT, the new XFUNDS ETF, provides exposure to overnight Bitcoin price movements, shifting to Treasuries during U.S. trading hours to mitigate volatility.
- Morgan Stanley's MSBT bitcoin ETF (as identified by The Block) drew substantial attention on its first day, with CoinDesk and The Block reporting $34 million in inflows.
- Other sources like Decrypt and Cointelegraph corroborate strong initial interest, noting first-day inflows of $31 million and $30 million, respectively, for the Morgan Stanley Bitcoin ETF.
Why it matters: The Morgan Stanley Bitcoin ETF logged up to $34 million in first-day volume, indicating strong investor appetite for crypto exposure.
