Key Highlights:
- Leverage Shares by Themes has launched a 2X Long Coinbase ETF (COIG) on Nasdaq.
- The ETF aims for 200% daily exposure to Coinbase stock with a low expense ratio of 0.75%.
- This launch marks the company’s inaugural crypto-focused ETF in the U.S., with additional offerings set for 2025.
Despite a downturn in crypto markets, Leverage Shares has introduced a new exchange-traded fund (ETF) associated with Coinbase (COIN) stock, which is traded on Nasdaq. The 2X Long Coinbase Daily ETF (COIG) is crafted to provide double the daily returns of Coinbase’s stock, giving traders enhanced exposure to the leading U.S. cryptocurrency exchange. This ETF has an expense ratio of 0.75%, and the announcement was made via a press release.
The launch comes at a time when the cryptocurrency market is experiencing a notable downturn, with Bitcoin (BTC) having declined approximately 19% over the last three months, from over $105,000 to around $84,000. Coinbase shares have suffered even more, dropping nearly 42% in the same timeframe.
This new ETF provides investors with a way to capitalize on the volatility of Coinbase’s stock without needing to directly own shares. Leveraged ETFs like this one are generally employed for short-term trading due to the inherent risks associated with daily compounding. Both profits and losses in such ETFs can be significantly amplified when the prices of the underlying stocks undergo substantial fluctuations.
