On September 18, GraniteShares 2x Long COIN Daily ETF rose 10.02% in regular trading, trading at $5.565/share, with turnover of $53.37 million. As a 2x leveraged ETF tracking Coinbase, CONL amplified the underlying stock's gains driven by a major regulatory catalyst.

On the news front, the U.S. Securities and Exchange Commission issued a five-year conditional innovation exemption, establishing for the first time a federal regulatory pathway for tokenized NMS stock trading on licensed AMM platforms. SEC Chairman Paul Atkins stated that the agency would act within its existing authority regardless of legislative progress, after the Senate narrowly failed to advance the CLARITY Act by a 49-to-50 vote on September 15.

The policy directly benefits Coinbase, whose CEO Brian Armstrong had previously advocated for bringing tokenized stocks to the U.S. market. The underlying stock Coinbase closed up 5.75% at $173.97 on the day. Additionally, Needham raised its Coinbase price target from $177 to $200 maintaining a Buy rating, while Goldman Sachs raised its target to $219, providing further support.

GraniteShares 2x Long COIN Daily ETF 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.)