Stock Track | Crypto ETF CONL Surges 9.5% in Premarket on Coinbase Rally

Stock Track07-26

The GraniteShares 2x Long COIN Daily ETF (CONL), an ETF that tracks the price of Coinbase (COIN) with 2x leverage, surged 9.45% in premarket trading on Thursday, following a rally in crypto-related stocks.

Coinbase, the largest U.S. cryptocurrency exchange, rose 4.7% in premarket trading after announcing the addition of three new members to its board of directors. The move is seen as Coinbase's effort to sway U.S. crypto policy and push back against the SEC's regulations.

Other crypto-related stocks, including Bit Digital, Marathon Digital, MicroStrategy, Riot Platforms, and CleanSpark, also gained over 5% in premarket trading. The broader crypto industry is aiming to become a major political force in the upcoming U.S. presidential election, as the industry's fortunes could shift depending on the outcome.

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