GraniteShares 2x Long COIN Daily ETF is trading 5.2% higher today as the fund rebounds from a steep multi-day slide, tracking a recovery in the broader cryptocurrency market.
- The ETF is benefiting from firmer overnight prices in Bitcoin and Ethereum, coupled with a modestly risk-on tone in Nasdaq futures.
- Due to its 2x leveraged exposure to Coinbase, the instrument is seeing an outsized pre-market move relative to the underlying assets as risk sentiment improves.