GraniteShares ETF Suffers Losses Amid Coinbase Decline

The recent market downturn has affected various financial instruments, including the GraniteShares 2x Long COIN Daily ETF (CONL). On June 5, 2026, CONL experienced a significant drop in value, with a loss of 14%.

This decline is partly attributed to Coinbase's own 7% decrease and the broader crypto market's selloff. Macroeconomic factors such as strong payroll reports and rising Treasury yields have likely contributed to these losses.