ProShares Ultra COIN (COIA)

ProShares Ultra COIN is a leveraged single-stock exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 2x, or two times, the daily percentage change in the share price of Coinbase Global, Inc., the operator of a U.S.-based cryptocurrency exchange and digital asset platform.

To deliver this amplified exposure, the fund typically uses swap agreements and other derivatives, and may also hold shares of the underlying company, resetting its leverage at the end of each trading day. Because the target applies to one-day returns only, compounding means performance over longer holding periods can differ substantially from twice the stock's return.

The fund is offered by ProShares, a long-established sponsor of leveraged and inverse ETFs and does not seek to track any broad index; its results depend entirely on the movements of a single company's shares (ticker COIN).