ProShares and Bitwise file for ETFs
ProShares and Bitwise are pursuing SEC authorization to establish exchange-traded funds (ETFs) linked to Circle Internet Group shares. The shares have recently started trading on the New York Stock Exchange (NYSE).
ProShares has introduced the ProShares Ultra CRCL ETF. This aims for daily returns that are double that of Circle’s shares (CRCL). Bitwise aims to launch the Bitwise CRCL Option Income Strategy ETF, designed to create income through options strategies while tracking CRCL and accruing yield from call option premiums.
Both companies submitted their ETF applications on June 6, immediately following Circle’s public listing on the NYSE. The proposed ETFs are set to commence on August 20, 2025, pending regulatory approval.
Circle, renowned for introducing the USDC stablecoin, saw a robust market debut, with its valuation surging to four times its initial public offering (IPO) price of $31 per share by the conclusion of the second trading day.
