The GraniteShares 2x Long Coinbase Daily ETF (CONL) closed on January 17th at $48.17, marking a 9.48% increase, driven by a surge in Coinbase Global Inc. (COIN), which rose 5.18% to $296.23. The upward momentum in Coinbase's stock is largely attributed to a favorable U.S. Court of Appeals decision pressuring the SEC to clarify its stance on digital asset regulation, which is seen as a partial win for Coinbase. This legal development has bolstered investor confidence, as it may lead to a more predictable regulatory environment for digital assets. Additionally, the broader cryptocurrency market is experiencing a rally, with Bitcoin surpassing $105,000, further enhancing the positive sentiment around crypto-related stocks. Coinbase's recent launch of Bitcoin-backed loans for U.S. users and the anticipation of new regulatory frameworks benefiting the crypto exchange industry have also contributed to the stock's rise.