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Bitcoin ETF (XBTF) Hits New 52-Week High
For investors seeking momentum, VanEck Bitcoin Strategy ETF is probably on radar. The fund just hit a 52-week high and is up about 115% from its 52-week low price of $15.25/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:
XBTF in Focus
VanEck Bitcoin Strategy ETF seeks capital appreciation by investing in bitcoin futures contracts. It is actively managed and offers exposure to bitcoin-linked investments through an accessible exchange-traded vehicle. XBTF does not invest in bitcoin or other digital assets directly and charges 66 bps in annual fees (see: all the Cryptocurrency ETFs here).
Why the Move?
The cryptocurrency corner of the broad investing world has been an area to watch lately. Bitcoin climbed to its highest in nearly a year-and-a-half, buoyed by mounting speculation that a spot bitcoin ETF is imminent.
More Gains Ahead?
XBTF might remain strong, given a weighted alpha of 59.50 and a higher 20-day volatility of 44.18%. There is definitely still some promise for investors who want to ride on this surging ETF.