Bitcoin trades around the clock. Your Bitcoin ETP does not. Between 10pm and 8am, and throughout every weekend, the German trading venue is closed while the price keeps moving. We measured how much of that movement falls into the closed hours: across the 30 days to September 11, 2026, it was 45 percent of the total hourly movement in the euro price of Bitcoin. Almost half of what happens takes place while you cannot place an order.