Global X Blockchain ETF (BKCH) has caught investors’ attention after reaching a new 52-week high. The fund has surged 174.1% from its low of $28.22 per share, showing a strong upward trend and standing out among thematic ETFs amid growing interest in blockchain technologies.

“The fund gained momentum primarily due to the rise in Coinbase shares,” analysts note. Coinbase, which is the largest holding in BKCH with a weight of about 14.58%, jumped 7.6% on May 16, 2025. This was driven by the company’s inclusion in the S&P 500 index and the solid performance of Bitcoin, which continues to lead the crypto market.

However, the short-term outlook remains mixed. “Despite the sharp rally, BKCH may face a correction,” experts warn. The negative weighted alpha of -2.67 indicates a possible slowdown and growing volatility in the coming weeks.