Cryptocurrency ETF (CRPT) Hits New 52-Week High

First Trust SkyBridge Crypto Industry and Digital Economy ETF CRPT is probably on the radar for investors seeking momentum. The fund just hit a 52-week high and moved up 176.1% from its 52-week low price of $8.50/share.

Are more gains in store for this ETF? Let us 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.

###Why the Move?

Bitcoin surpassed $111,000 for the first time, with traders increasingly bullish on the prospects of the original cryptocurrency amid mounting institutional demand. This is why the Crypto ETF CRPT hit a 52-week high lately.

###More Gains Ahead?

The ETF CRPT might continue its strong performance in the near term, with a positive weighted alpha of 66.90, which gives cues of a further rally.

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First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT): ETF Research Reports

This article originally published on Zacks Investment Research (zacks.com).

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