On September 21, GraniteShares 2x Long COIN Daily ETF surged 12.12% in regular trading, reaching $7.0005 per share, with turnover of $83.32 million. As a 2x leveraged ETF tracking Coinbase, the fund amplified gains in its underlying stock driven by a confluence of bullish catalysts.

On the news front, Coinbase Derivatives formally submitted a single-stock perpetual contract listing application to the CFTC on September 19, seeking authorization to offer perpetual futures on approximately 50 to 60 US equities including Apple, Tesla, NVIDIA, and Microsoft. The product would allow traders to gain leveraged exposure without holding the underlying shares, marking Coinbase's aggressive push to extend crypto-native derivatives into traditional equity markets.

Simultaneously, the SEC's recently announced five-year innovation exemption for tokenized stock trading continues to reverberate. The policy permits qualifying platforms to trade tokenized NMS stocks via permissioned automated market makers, directly benefiting Coinbase, whose CEO had publicly expressed intent to bring tokenized equities to the US market. This was further reinforced by analyst upgrades, with Needham raising its Coinbase price target to $200 and Goldman Sachs to $219.

GraniteShares 2x Long COIN Daily ETF is a passively managed ETF that seeks to replicate 1.5 times (150%) the daily percentage change of its underlying stock through 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.)