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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.