ProShares Launches Double-Leveraged Circle Stock ETF

According to reports, ProShares has officially launched the Ultra CRCL ETF (ticker: CRCA), which is an ETF that provides double leverage on the daily price fluctuations of Circle Internet Group stocks. Circle is the issuer of USDC, the world's second-largest stablecoin, and its stock has increased nearly 400% since its IPO, but has fallen over 25% in the past month. CRCA began trading on the NYSE Arca on August 6, with a net asset value of $25 and an expense ratio of 1.08%. ProShares stated that this product offers investors who are bullish on Circle a new investment option that does not require margin.