Back to top
We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties. You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies. In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Image: Bigstock
Blockchain ETF (BKCH) Hits New 52-Week High
For investors seeking momentum, Global X Blockchain ETF (BKCH - Free Report) is probably on radar. The fund just hit a 52-week high and is up 257.1% from its 52-week low price of $12.15/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 on where it might be headed:
BKCH in Focus
The underlying Solactive Blockchain Index provides exposure to companies that are positioned to benefit from further advances in the field of blockchain technology. The fund charges 50 bps in fees.
Why the Move?
Ripple’s (XRP) price has surged this week, climbing the most among the largest cryptocurrencies by market capitalization. Judge Analisa Torres, the presiding judge in the SEC versus Ripple case, sparked optimism around the cryptocurrency, delivering rulings on the Parties’ Motions for Summary Judgment.
More Gains Ahead?
The fund BKCH is likely to continue its strong performance given a positive weighted alpha of 86.59.