On September 21, GraniteShares 2x Long COIN Daily ETF rose 8.45% in pre-market trading, trading at $6.79/share, with turnover of approximately $3.91 million.

On the news front, underlying stock Coinbase saw a confluence of positive catalysts. On September 19, Coinbase Derivatives formally submitted a single-stock perpetual contract listing application to the CFTC, seeking to extend crypto-native derivative instruments into traditional equity markets. The filing covers 50 to 60 U.S. stocks including Apple, Tesla, NVIDIA, and Microsoft, marking a significant expansion of its derivatives business. Perpetual contracts, which have no expiration date, would allow traders leveraged exposure without holding underlying shares.

Simultaneously, the SEC's recently announced five-year innovation exemption for tokenized stock trading continues to bolster sentiment. The exemption permits qualifying platforms to trade tokenized NMS stocks via permissioned automated market makers, directly benefiting Coinbase, which had previously expressed plans to bring tokenized equities to the U.S. market. Analyst upgrades from Needham (target $200) and Goldman Sachs (target $219) provide additional support. As a 2x leveraged ETF, CONL amplifies the underlying stock's gains.

The fund is a passively managed ETF that attempts to replicate 1.5 times (150%) the daily percentage change of the underlying stock by entering into swap agreements with major financial institutions. It is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)