GraniteShares 2x Short COIN Daily ETF (CONI)

GraniteShares 2x Short COIN Daily ETF is a leveraged inverse single-stock exchange-traded fund that seeks daily investment results, before fees and expenses, equal to -2x, or twice the inverse, of 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.

The fund gains its short exposure mainly through swap agreements and similar derivative contracts rather than by shorting the stock directly, and it rebalances its exposure each trading day. Because the inverse multiple is reset daily, results over periods longer than a single day can differ significantly from two times the inverse of the stock's return over the same period.

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