PANews reported on March 16 that according to Globenewswire, ETP provider Leverage Shares announced the launch of the first cryptocurrency-centric exchange-traded fund in the United States, Leverage Shares 2X Long Coinbase Daily ETF (COIG), which mainly tracks Coinbase stocks and provides investors with 2x long trading exposure. The ETF will be listed on Nasdaq.
Leverage Shares analysts previously said in a report that Coinbase's stock could benefit from the growing popularity of Bitcoin spot ETFs, but it would take "a lot of effort" to maintain its financial growth, and the long-term driver of Coinbase's revenue could be the fees it generates from custodying Bitcoin for ETF providers.
