Leverage Shares by Themes has introduced a new exchange-traded fund (ETF) linked to the Nasdaq-listed cryptocurrency exchange Coinbase (COIN) stock, in the midst of a slump affecting crypto-related stocks.
The Leverage Shares 2X Long Coinbase Daily ETF (COIG) aims to provide double the daily returns of Coinbase’s stock price, giving traders increased exposure to the largest cryptocurrency exchange in the U.S. This ETF, which has an expense ratio of 0.75%, is listed on Nasdaq, as mentioned in an official announcement.
This launch occurs during a notable decline in the cryptocurrency market, with bitcoin (BTC) plummeting roughly 19% over the last three months, from more than $105,000 to approximately $84,000. In contrast, COIN shares experienced a more severe drop, losing nearly 42% of their value during the same timeframe.
The new ETF allows investors to capitalize on the volatility of Coinbase’s stock performance without the need to directly own shares.
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