---
ticker: "BHDG"
name: "Nicholas Bitcoin Tail ETF"
url: "https://etf.net/etf/BHDG"
grade: null
no_grade_reason: "Under classification review"
price: 20.77
price_as_of: "Oct 21, 2026, 10:53 AM ET"
methodology: "https://etf.net/methodology"
---

# BHDG: Nicholas Bitcoin Tail ETF

Not graded: Under classification review. This fund does not currently behave like the group it was assigned to, so its grouping is being re-reviewed. Grading pauses until the review resolves, because a letter measured against the wrong peer group would be a statement about the wrong funds.

Price $20.77, −0.38 (−1.80%) from the previous close. As of Oct 21, 2026, 10:53 AM ET.

## Top holdings

The fund holds 7 positions. These are the largest 7, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | United States Treasury Bill 07/08/2027 | 45.66% |
| 2 | — | United States Treasury Note/Bond 2.375% 05/15/2027 | 41.83% |
| 3 | — | Ibit Us 11/20/26 P43 | 3.76% |
| 4 | — | United States Treasury Note/Bond 3.375% 09/15/2027 | 3.37% |
| 5 | — | First American Government Obligations Fund 12/01/2031 | 3.20% |
| 6 | — | Cash & Other | 2.91% |
| 7 | — | Ibit Us 10/23/26 C48.5 | 0.46% |

Source: etf.net, https://etf.net/etf/BHDG. Please cite the page URL.