Just-In: Bitwise and ProShares File for Circle Stock (CRCL) ETF
Highlights
- Circle stock price surged 17% today with the Bitwise and ProShares ETF filing.
- After a minor consolidation post IPO, the stock price regained bullish momentum.
- ProShares ETF would deliver 2x of its stock returns once the SEC approves.
Circle Interest Group’s (CRCL) stock price has gained a significant boost after the recent IPO launch. Now, the ProShares and Bitwise ETFs filing, tied to the Circle share price, is another significant milestone for the company, as it’s starting a new wave of single-stock exchange-traded funds.
Circle Stock News: Bitwise and ProShares To Launch ETF on CRCL
According to a recent X post shared by Bloomberg analyst Eric Balchunas, the Circle stock CRCL, which went live on Thursday, is also exploring the exchange-traded funds sector. Reportedly, the stock is set to launch two new single exchange-traded funds, including ProShares Ultra CRCL ETF with 2x leverage and Biwise’s CRCL income ETF targeting a covered call strategy.
Interestingly, both would go into effect on August 20, 2025, once the SEC approved the filings. The ProShares ETF is designed to deliver 2x the daily return of Circle’s share price, currently at $126.24 after a 17% surge amid investors’ excitement.
Notably, the leverage must be held on a daily basis, and the extended holding could bring different results. Besides, this is more appealing to the long-term investors who wish to have direct access to CRCL stock.
Interestingly, the Circle IPO has opened the gates of its popularity, resulting in Ark Investment purchasing $373M worth and more. These filings are the first in ETF history, a milestone, pricing directly connected to the crypto-fintech exosystem.
Circle Stock Surge, Consolidates, and Resurges
Since the Circle IPO debut, the share price has been volatile. With a massive rally initially as investors rushed to participate, volatility remained high. However, now that the ETF filing news is out, the Circle share price is again rising. It indicates its high demand amid ongoing developments and key moments.
However, since the SEC’s approval is still pending, the surge may last temporarily before fueling a sloppy performance. Besides, the upcoming US CPI, PPI data, and other macroeconomic data events still loom. With time, they could affect the financial stock market, including this stock’s price.
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