Bitwise and ProShares filed for CRCL-based ETFs, pending SEC approval by August 2025.
ProShares targets 2x daily returns, while Bitwise uses a covered call income strategy.
Circle stock surged 17% post-IPO and regained momentum following the ETF news.
ProShares and Bitwise have submitted filings for exchange-traded funds linked to Circle’s stock (CRCL), which launched on the public market recently. The move represents a notable shift, bringing CRCL into the ETF landscape. According to Bloomberg analyst Eric Balchunas, ProShares aims to create a leveraged ETF that offers twice the daily return of CRCL’s share price, while Bitwise’s ETF will follow a covered call strategy to generate income.
The SEC is currently reviewing both filings, with an effective date of August 20, 2025, pending approval. If cleared, these would be among the first ETFs tied to a newly listed fintech stock focused on crypto-related services. This could increase investor access and potentially expand Circle’s market reach through new financial products.
CRCL Performance and Market Reaction
Circle’s stock, trading under the ticker CRCL, began its public journey with strong investor interest, causing initial volatility. The share price has experienced both rapid gains and brief consolidation phases. Following the announcement of the ETF filings, CRCL stock showed renewed strength and rose to \$126.24, up by 17%.
The leveraged ETF, in particular, has drawn attention from traders interested in amplifying exposure to Circle’s short-term price movements. However, daily reset features on leveraged ETFs can lead to different long-term performance results, making them suitable primarily for experienced investors. Meanwhile, the Bitwise ETF offers a more income-focused approach, appealing to longer-term holders.
Broader Market and Regulatory Factors Remain Critical
A rise in the ETF has helped push the stock upward, yet the stock market is still shaped by broader economic trends. The release of new U.S. CPI and PPI numbers may have an effect on investors’ attitude toward financial and tech stocks such as CRCL.
Additionally, until the SEC provides formal approval for the ETFs, the current gains could see adjustments based on market speculation and regulatory decisions. These filings reflect growing interest in integrating fintech firms into traditional financial products, especially as the ETF market continues to diversify.
With these developments, Circle’s position in both the equity and ETF markets could evolve significantly over the coming months
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