The GraniteShares 2x Long Coinbase Daily ETF (CONL) closed up 3.3% at $45.02 on December 20, driven by a positive shift in sentiment towards Coinbase Global, Inc. (COIN), which saw its stock price rise 1.33% to $277.57. This uptick follows Keefe, Bruyette & Woods' upward revision of Coinbase's price target to $275.00, reflecting increased optimism about the company's future performance. The market's bullish outlook is further supported by heightened options activity, indicating investor confidence in potential positive developments. Additionally, the broader cryptocurrency market experienced volatility, with Bitcoin's price fluctuations impacting sentiment. Bitcoin initially tumbled to around $92,000 but rebounded to just below $97,000, influenced by a softer-than-expected U.S. inflation report, which suggests the Federal Reserve might maintain a dovish monetary policy longer than anticipated. This environment has historically benefited cryptocurrencies, adding to the positive momentum for Coinbase.