Leverage Shares lists -3x Short Coinbase ETP Securities on LSE

Leverage Shares lists -3x Short Coinbase ETP Securities on London Stock Exchange

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Oktay Kavrak, Director of Product Strategy at Leverage Shares

The Leverage Shares -3x Short Coinbase (COIN) ETP Securities seeks to track the iSTOXX Inverse Leveraged -3x COIN Index, which is designed to provide -3x the daily return of Coinbase Global, Inc. stock, adjusted to reflect the fees and inherent costs and revenues of shorting. It holds the short positions in the underlying Coinbase Global, Inc. stock and resulting cash balances.

For example, if Coinbase Global, Inc. rises by 1% over a day, then the ETP will fall by 3%, excluding fees. However, if Coinbase Global, Inc. falls by 1% over a day, then the ETP will rise by 3%, excluding fees

Source: ETFWorld