CRPT Reaches 52-Week High Following Trump’s Presidential Win

The First Trust SkyBridge Crypto Industry and Digital Economy ETF (CRPT) surged to a new 52-week high, fueled by renewed interest in the crypto sector following Donald Trump’s recent presidential win. According to ETF data from etf.com, CRPT, which focuses on companies in the crypto and digital economy spaces, rose 22% on Tuesday, earning it the title of the day’s top-performing ETF. By Thursday, the ETF added another 5.4%, reaching $18.09—a substantial 219.6% increase from its 52-week low of $5.66.

Scaramucci’s Influence and Trump’s Pro-Crypto Stance

Anthony Scaramucci, founder of SkyBridge and a former communications director for Trump, now a vocal critic, remains influential in the sector. The win by Trump, a candidate who has actively branded himself as a pro-crypto advocate, resonated within the crypto community, particularly as Trump pledged to build a strategic bitcoin reserve and to promote domestic bitcoin mining.

Increased Interest in Digital Assets and Spot Bitcoin ETF

CRPT’s recent gains come amidst rising interest in digital assets, a trend bolstered by the recent approval of the first spot bitcoin ETFs. These funds, now managing over $55 billion, have experienced substantial inflows and valuations since the election, reflecting a shifting sentiment toward crypto in traditional finance.

Coinbase and Galaxy Digital Lead CRPT Portfolio Holdings

Within the CRPT portfolio, Coinbase Global Inc. takes the lead as the largest holding at 15.76%. Coinbase saw its shares spike 31% on Wednesday as Bitcoin approached an all-time high of over $77,000. Galaxy Digital Holdings, the second-largest holding at 15%, surged 46.6% from Wednesday to Thursday, experiencing a 15.4% gain on Thursday alone.

CRPT ETF Performance Since Launch and Expense Ratio

Since its September 2021 inception, the actively managed CRPT ETF, with an expense ratio of 0.85%, mandates that portfolio companies generate at least 50% of their revenue from crypto-related activities. Year-to-date, CRPT has posted a 45.3% return, with one-year gains reaching 130.3%.

Notable Crypto Mining Companies in CRPT’s Portfolio

Prominent crypto mining companies also form a key part of CRPT’s holdings. These include MARA Holdings Inc. (13.88%), Cipher Mining Inc. (9.42%), and Iris Energy (9.33%), all of which recorded significant gains in the wake of Trump’s victory, with MARA jumping over 19% since Tuesday’s market close.