If there’s one thing experienced investors know about the crypto realm, it’s that the arena doesn’t lack for excitement. They also know that sentiment cuts both ways.
There are also avenues for accessing crypto without needing to take direct ownership of digital currencies. Coinbase Global (COIN), the largest regulated domestic cryptocurrency broker, ranks high on that list. Coinbase is one of the most crypto-correlated large-cap stocks on the market. That status confirms that 2026 is likely to bring ample opportunity for risk-tolerant traders to use the Direxion Daily COIN Bull 2X ETF (NASDAQ: CONX).
The possibility of positive updates regarding the company’s newly launched businesses could catalyze traders to deploy CONX in 2026.
“Coinbase has also continued to branch off into adjacent businesses offering the stablecoin USDC through its partnership with Circle, a crypto debit card, blockchain infrastructure, and data analytics services,” said Morningstar analyst Michael Miller. “We like this move for Coinbase since it helps reduce its reliance on cryptocurrency transaction revenue, which is inherently volatile.”
Regulatory Environment Could Help CONX, Too
As has been widely discussed, the current composition of Congress and the White House is pro-crypto. Those benefits are being felt at the regulatory level. Further expansion of that theme this year, including the possibility of more digital currency ETFs being approve, could bring the short-term sparks traders need to capitalize with CONX.
“Additionally, Coinbase enjoys a more favorable regulatory regime under the new presidential administration. New legislation has brought more regulatory clarity to cryptocurrency in the US, to Coinbase’s immediate benefit, though this could lead to more competition in Coinbase’s home market,” added Miller.
More crypto ETFs coming to market is relevant in discussing the Coinbase thesis. The company already acts as a custodian for some of the largest bitcoin and Ethereum ETFs. That indicates that it could generate more related business as more digital currency ETFs debut.
“Cryptocurrency custodianship is a key part of Coinbase’s operating model, and the company ended 2024 with over $400 billion in client-owned cryptocurrency on its platform. The result of this model is that traders need to keep assets at the exchange if they intend to trade on it,” observed Miller.
In other words, Coinbase may be tethered to cryptocurrency ETF approval news flow this year. Combine that with its expanding market share, and CONX could prove useful to short-term traders at various points throughout 2026.
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