Key Insights

• ProShares has introduced the first ETF offering double daily returns on Circle’s stock, which has surged since its IPO in June.
• Circle’s market capitalization has nearly quintupled in response to demand for its USDC stablecoin and growing clarity in U.S. regulations.
• This ETF allows traders to leverage investments in Circle without resorting to margin, but it’s designed for short-term trading only.

ProShares ETF Image

Exchange-traded fund (ETF) provider ProShares recently launched a novel product designed to double the daily performance of Circle’s (CRCL) stock, facilitating leveraged trading opportunities surrounding one of the leading firms in the crypto finance sector. The ProShares Ultra CRCL ETF (CRCA) commenced trading shortly after Circle’s public debut on the New York Stock Exchange (NYSE).

Since becoming public, Circle’s stock has escalated by 134%, propelled by the burgeoning adoption of its USDC stablecoin and new legislative support for digital currencies. Circle is esteemed as the issuer of USDC and is engaged in various blockchain-based asset services across more than 185 countries.

The ETF’s launch aligns with recent legislative actions, particularly the passage of the GENIUS Act, which formalized a legal framework for payment stablecoins and outlined how firms like Circle can function within the U.S. financial ecosystem. This trend suggests a favorable outlook for Circle as it positions itself amid evolving regulations.

The new fund joins ProShares’ extensive product line, emphasizing a growing commitment to digital assets and cryptocurrencies.