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First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT) - free report >>
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First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT) - free report >>
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Crypto Industry ETF (CRPT) Hits a New 52-Week High
For investors seeking momentum, First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 245.9% from its 52-week low price of $3.61/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:
CRPT in Focus
This ETF is active and does not track a benchmark. The First Trust SkyBridge Crypto Industry and Digital Economy ETF seeks to provide investors with capital appreciation. The fund charges 85 bps in fees (see all Cryptocurrency ETFs here).
Why the Move?
Bitcoin price has been riding high this week, extending the gains made since spot ETFs started trading in January. The cryptocurrency could gain higher on strong demand for speculation and trading activity.
More Gains Ahead?
The fund has a positive weighted alpha of 160.42. So, there is a decent outlook ahead for those who want to ride this surging ETF a shade further.