For investors seeking momentum, Valkyrie Bitcoin Strategy ETF (BTF Quick QuoteBTF - Free Report) is probably on radar. The fund just hit a 52-week high and is up about 119% from its 52-week low price of $5.97/share.

But are more gains in store for this ETF? Let’s take a quick look at the fund and the near-term outlook on it to get a better idea of where it might be headed:

BTF in Focus

Valkyrie Bitcoin Strategy ETF is an actively managed ETF available through Nasdaq. It invests in bitcoin futures contracts and does not provide direct exposure to the price of bitcoin. BTF charges 95 bps in annual fees (see: all the Cryptocurrency ETFs here).

Why the Move?

The cryptocurrency corner of the broad investing world has been an area to watch lately, given Bitcoin’s thrilling ascent. The surge has rekindled interest in the crypto market, signaling positive sentiment among both retail and institutional investors. The confluence of regulatory developments, advancing technology and positive market sentiment is driving cryptocurrency higher.

More Gains Ahead?

BTF might remain strong, given a weighted alpha of 84.71 and a higher 20-day volatility of 41.53%. There is definitely still some promise for investors who want to ride on this surging ETF.