GraniteShares 1x Short COIN Daily ETF (CONI)

Overview

The GraniteShares 1x Short COIN Daily ETF (SWIN) is designed to provide investors with a leveraged inverse exposure to the daily performance of Coinbase Global, Inc. (COIN). It aims to deliver -1x the daily return of COIN, meaning it profits when COIN's price declines and loses money when COIN's price increases. This ETF is suitable for sophisticated investors with a short-term view on the cryptocurrency exchange operator.

Reputation and Reliability

GraniteShares is a relatively newer player in the ETF market, but it has focused on offering a range of specialized and inverse/leveraged products. Their reputation is developing, with a focus on niche strategies. Reliability is generally considered good for its product offerings, though its track record is shorter than established providers.

Management Expertise

The management team at GraniteShares has experience in developing and managing exchange-traded products, with a specific emphasis on alternative investment strategies and leveraged/inverse exposures.

Goal

To provide investors with 1x the inverse daily performance of Coinbase Global, Inc. (COIN).

Investment Approach and Strategy

Strategy: This ETF utilizes derivatives, such as futures and swaps, to achieve its stated objective of -1x the daily return of Coinbase Global, Inc. (COIN). It is not designed to track an index but rather to offer a direct inverse daily exposure to a single stock's performance.

Composition The ETF's holdings are primarily composed of financial derivatives that are designed to replicate the inverse daily price movements of COIN. It does not hold COIN stock directly in significant quantities.

Market Share: As a highly specialized and niche ETF, its market share within the broader ETF landscape is very small. Its market share is concentrated within the specific segment of single-stock inverse ETFs, where competition exists but the overall universe is limited.

Total Net Assets (AUM): 36489137

Key Competitors

• ProShares Bitcoin Strategy ETF (BITO)
• Valkyrie Bitcoin Strategy ETF (BTF)
• ProShares Ether Strategy ETF (EETH)

Competitive Landscape

The competitive landscape for single-stock inverse ETFs is limited due to regulatory scrutiny and the complex nature of these products. Competitors often offer similar inverse or leveraged exposure to specific stocks or sectors. SWIN's advantage lies in its direct focus on COIN, a prominent cryptocurrency-related stock. Its disadvantage is the inherent complexity and short-term nature of its strategy, which can lead to significant tracking error over longer periods and substantial losses if the underlying asset moves against the investor's position.

Historical Performance: Historical performance data for SWIN shows its inverse relationship with COIN's daily movements. Over short periods, it can achieve its objective, but due to daily rebalancing and compounding effects, its performance over longer periods (weeks, months, years) will deviate significantly from -1x the cumulative return of COIN. Detailed historical data requires access to real-time financial terminals or specific historical performance databases.

Benchmark Comparison: SWIN does not explicitly track a benchmark index in the traditional sense. Its performance is directly measured against the daily returns of Coinbase Global, Inc. (COIN). The goal is to achieve -1x the daily return of COIN. However, due to rebalancing and derivative costs, it is unlikely to achieve this perfectly over longer periods.

Expense Ratio: 0.73

Average Trading Volume

The average trading volume for SWIN is sufficient for active traders looking to implement short-term strategies.

Bid-Ask Spread

The bid-ask spread for SWIN is generally tight, indicating good intraday liquidity for this specialized ETF.

Market Environment Factors

The performance of SWIN is heavily influenced by the volatility of Coinbase Global, Inc. (COIN) and the broader cryptocurrency market. Factors such as regulatory changes concerning cryptocurrencies, adoption rates, institutional interest, and macroeconomic conditions that affect risk assets can significantly impact COIN and, consequently, SWIN.

Growth Trajectory

As a highly specialized, inverse ETF, SWIN's growth trajectory is tied to investor demand for short-term bearish bets on COIN. Its strategy is not designed for long-term accumulation, so its AUM and usage will likely fluctuate based on market sentiment and trading opportunities.

Competitive Edge

SWIN's primary competitive advantage is its focused offering of 1x daily inverse exposure to a single, highly scrutinized cryptocurrency-related stock, Coinbase. This provides a direct tool for traders looking to hedge or speculate on short-term price declines in COIN. Its simplicity in terms of its objective (minus one times the daily return) makes it straightforward for investors who understand the risks of inverse ETFs.

Volatility

SWIN exhibits high volatility, mirroring the volatility of its underlying asset, COIN, and amplified by its inverse leverage. Its daily returns can be substantial in both positive and negative directions.

Market Risk

The primary market risk for SWIN is the potential for Coinbase Global, Inc. (COIN) to increase in price. If COIN rises, SWIN will lose value. Over longer periods, compounding effects can lead to significant divergence from the stated -1x daily objective, especially in volatile markets.

Ideal Investor Profile

The ideal investor for SWIN is a sophisticated trader or institutional investor with a very short-term bearish outlook on Coinbase Global, Inc. (COIN). They should have a deep understanding of leveraged and inverse ETFs, including their risks, rebalancing mechanisms, and potential for tracking error.

Market Risk

SWIN is best suited for active traders employing short-term strategies, such as hedging or speculative bets. It is not suitable for long-term investors or passive index followers due to the risks associated with daily rebalancing and the potential for significant capital erosion over time if the underlying asset's price movement is not consistently in the expected direction.

The GraniteShares 1x Short COIN Daily ETF (SWIN) offers a precise, inverse daily exposure to Coinbase Global, Inc. (COIN). Its strategy involves derivatives to achieve -1x the daily return, making it a tool for short-term bearish plays on COIN. While offering directness, it carries significant risks due to daily rebalancing and inherent volatility. It is exclusively for experienced traders understanding its complex, short-term nature, not for long-term investment.

Data Sources:

• GraniteShares Official Website
• Financial Data Aggregators (e.g., ETF.com, Yahoo Finance, Bloomberg - specific data points vary)

Disclaimers:

This JSON output is for informational purposes only and does not constitute financial advice. Investing in leveraged and inverse ETFs carries substantial risk, including the potential loss of principal. Past performance is not indicative of future results. Investors should consult with a qualified financial advisor before making any investment decisions. Data accuracy and completeness are subject to the limitations of the sources used.