GraniteShares 2x Long COIN Daily ETF is trading 10.5% down today as crypto-related assets retreat following a major $32 million security breach in the digital asset space.
- The fund provides 2x leveraged exposure to Coinbase (COIN), resulting in magnified losses as both Coinbase shares and key cryptocurrencies like Bitcoin and Ethereum face selling pressure.
- Broader risk-off sentiment in equities and general softness in the crypto market are compounding the decline, reversing a portion of the fund's recent rebound.