AMALY — SHARIAH COMPLIANCE REPORT
==================================
Symbol: CONL
Report Date: 2026-04-22
Full Report: https://amaly.io/stock/CONL

EXECUTIVE SUMMARY
------------------
Compliance Status: NON_COMPLIANT
Quality Rating: B
Description: CONL, the GraniteShares 2x Long Coinbase Daily ETF, provides leveraged exposure to Coinbase Global Inc., a cryptocurrency exchange. This analysis reveals significant Shariah compliance issues stemming from the underlying business activities involving speculation and derivatives, which violate principles of gharar, maysir, and riba. Financial ratios are unassessable due to the ETF structure, but business activity screening results in non-compliance. No inclusion in major Shariah indices underscores broad regulatory and scholarly rejection. Investors are advised to avoid or monitor closely, with alternatives in permissible sectors recommended.

Primary Compliance Concerns:
- Business activity: Cryptocurrency trading and leveraged derivatives involve excessive speculation (gharar and maysir)
- Financial structure: Use of interest-bearing swaps and futures implies riba
- Insufficient financial data for ratio screening due to ETF nature
- Absence from all major Shariah-compliant indices

Purification Requirement: 0.00%
Index Inclusion: Not included in any major Shariah indices (S&P, MSCI, FTSE, DJIM)

KEY FINANCIAL METRICS
----------------------
Debt Ratio: 0.0%
Liquidity Ratio: 0.0%
Interest Income Ratio: 0.0%
Purification Required: 0.00%

INDEX INCLUSION STATUS
-----------------------
S&P Shariah: EXCLUDED
MSCI Islamic: EXCLUDED
DJIM: EXCLUDED
FTSE Shariah: EXCLUDED
Total: 0 of 4
Last Verified: 2025-12-31

REPORTING PERIOD
-----------------
Latest Annual Report: FY 2025
Latest Quarterly Data: Q4 2025
Trend Period: FY 2020 to FY 2025
Data Retrieved: 2026-02-16T12:00:00Z

---
Full interactive report: https://amaly.io/stock/CONL
Provided by Amaly (https://amaly.io) — Shariah Compliant Stock Screener
Disclaimer: This data is for informational purposes only and does not constitute financial or religious advice.