The GraniteShares 2x Long COIN Daily ETF (CONL), which aims to deliver twice the daily percentage move of Coinbase stock, has lost about 85% year-to-date. This steep loss highlights the risks of leverage, daily compounding, and volatility in single-stock leveraged ETFs, where returns over longer periods can diverge significantly from the underlying stock's cumulative returns. Even if Coinbase recovers, CONL investors face a much harder path to break even due to the fund's daily reset mechanism and the large capital loss already incurred. CONL is designed for short-term trading exposure, not as a buy-and-hold investment, and its recent performance underscores the challenges of leveraged ETFs in volatile markets.
Coinbase shares have fallen nearly 40% from their peak as CEO Brian Armstrong transforms the company into an "everything exchange," reducing reliance on Bitcoin-related revenue from over 50% to 12%. Despite recent earnings misses and a cautious Wall ...
Coinbase (COIN) is expected to report strong third-quarter earnings driven by Bitcoin's price surge and increased trading activity. The company has diversified its revenue streams, with 88% now coming from non-Bitcoin crypto activities, reflecting br...
