TechFlow news — On March 16, according to GlobeNewswire, ETP provider Leverage Shares announced the launch of its first crypto-focused exchange-traded fund in the United States: the Leverage Shares 2X Long Coinbase Daily ETF (COIG). The ETF primarily tracks Coinbase stock and offers investors 2x long exposure, and will be listed on Nasdaq.
In a previous report, Leverage Shares analysts stated that Coinbase's stock could benefit from the growing popularity of spot Bitcoin ETFs, but noted it would require "significant effort" to sustain its financial growth. A potential long-term driver of Coinbase's revenue may be fees earned from custodianship of Bitcoin for ETF providers.
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