Coinbase's recent developments have significantly influenced the GraniteShares 2x Long Coinbase Daily ETF (CONL). A notable factor is the surge in Solana activity, as highlighted by Coinbase's CEO, which has drawn attention to the platform's expanding ecosystem. Additionally, the anticipation surrounding President Trump's proposal to establish a U.S. strategic Bitcoin reserve has fueled market excitement. This proposal, coupled with the potential for regulatory changes, has bolstered investor sentiment towards cryptocurrencies, including those traded on Coinbase.
The underlying security, Coinbase Global Inc. (COIN), saw its price rise to $295.50, marking a 4.92% increase. This upward movement in COIN has contributed to the CONL ETF's performance, which is currently priced at $48.20, reflecting a 9.55% increase from the previous close.