---
ticker: "NGHT"
name: "Nicholas Bitcoin and Treasuries AfterDark ETF"
url: "https://etf.net/etf/NGHT"
grade: "D"
score: 38
graded_at: "2026-10-12"
category: "Bitcoin Derivatives"
category_rank: "4 of 7"
methodology: "https://etf.net/methodology"
---

# NGHT: Nicholas Bitcoin and Treasuries AfterDark ETF

Grade **D**, Score 38 of 100. Rank 4 of 7 in Bitcoin Derivatives.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 33 | 5 of 7 |
| Mission | Not scored | — |
| Risk | 49 | 2 of 5 |
| Tradability | 36 | 6 of 7 |
| Holdings | Not scored | — |
| Durability | 50 | 4 of 7 |

## Top holdings

The fund holds 3 positions. These are the largest 3, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | Ishares Bitcoin Trust Etf-Swap-Cant-L | 99.76% |
| 2 | — | United States Treasury Bill 11/19/2026 | 94.89% |
| 3 | — | First American Government Obligations Fund 12/01/2031 | 0.42% |

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