For investors seeking momentum, First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT Quick QuoteCRPT - Free Report) is probably on the radar. The fund just hit a 52-week high and is up 204.8% from its 52-week low price of $5.66/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

The First Trust SkyBridge Crypto Industry and Digital Economy ETF seeks to provide investors with capital appreciation. The product charges 85 bps in annual fees (See: All Cryptocurrency ETFs here).

Why the Move?

Bitcoin has hit an all-time high of $75,000, surpassing its previous record of $73,770. Donald Trump, who won the U.S. presidential race on Nov. 6, 2024, is widely seen as a pro-crypto person. Reduced regulatory hurdles (expected in Trump presidency) could encourage even greater institutional participation. Plus, since its inception in 2009, Bitcoin has circumnavigated three election cycles, each followed by a rally to new heights, with prices never returning to pre-election levels.

More Gains Ahead?

The CRPT ETF might continue its strong performance in the near term, with a positive weighted alpha of 138.69, which gives cues of a further rally.