Movement Alert｜GraniteShares 2x Long COIN Daily ETF Rises 8.97% in Regular Trading, Coinbase Institutional Expansion and Target Price Hikes Lift Sentiment

Market Focus10-09 22:23

On October 9, GraniteShares 2x Long COIN Daily ETF rose 8.97% in regular trading, trading at $5.2999/share, with Turnover of $41.677 million.

The movement was driven by renewed optimism toward Coinbase Global, Inc. Coinbase recently received a license from the UAE Financial Services Regulatory Authority to offer tokenized securities custody services in the Abu Dhabi Global Market, strengthening its institutional presence in the Middle East. Additionally, Morgan Stanley raised its Coinbase price target from $250 to $258, while Rothschild & Co Redburn lifted its target from $198 to $214, with multiple investment banks maintaining overweight ratings, reinforcing confidence in Coinbase's medium-term performance.

GraniteShares 2x Long COIN Daily ETF is a passively managed ETF that attempts to replicate 1.5 times the daily percentage change of the underlying stock by entering into swap agreements with major financial institutions. It is non-diversified.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

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