Leverage Shares Launches 2X Long Coinbase ETF Amid Market Downturn
Leverage Shares by Themes has launched the Leverage Shares 2X Long Coinbase Daily ETF (COIG), linked to Coinbase (COIN) stock. This ETF aims to provide twice the daily return of Coinbase’s stock price and is listed on Nasdaq with a 0.75% expense ratio.
Key details:
- Launch occurred during a downturn in the cryptocurrency market, with bitcoin dropping by approximately 19% and COIN shares losing nearly 42% in value over three months.
- The ETF enables investors to benefit from Coinbase's stock volatility without holding the shares directly.
- Single-stock leveraged ETFs are typically suited for short-term trading due to high risk from daily compounding effects.