Stock Track | GraniteShares Crypto ETF Soars in Pre-Market on Trump Election Euphoria

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The GraniteShares 2x Long COIN Daily ETF (CONL) soared over 11% in pre-market trading on November 12th, 2024, extending the massive gains seen in the cryptocurrency markets following Donald Trump's victory in the 2024 US presidential election.

Markets rallied broadly in the wake of Trump's win, with the S&P 500 climbing nearly 5% and the Nasdaq topping 19,000 for the first time. However, the crypto space saw some of the biggest gains, as Trump campaigned on an embrace of digital assets and pledged to make the US a global "crypto capital."

Bitcoin soared past $80,000 for the first time ever, while CONL - which provides 2x leveraged exposure to moves in Coinbase stock - surged over 44% on November 11th amid the fervent crypto rally. The pre-market surge in CONL on November 12th reflects the continued momentum and optimism surrounding the cryptocurrency markets following Trump's election victory and his pro-crypto stance.

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