Bitwise and ProShares File ETF Applications to Track Circle’s Stock
Bitwise and ProShares have submitted applications to the U.S. Securities and Exchange Commission (SEC) for exchange-traded funds (ETFs) linked to Circle’s stock (CRCL).
- Both ETFs aim to capitalize on Circle's stock surge following its IPO.
- Circle’s shares increased by 9% today, nearly quadrupling from the $31 offering price.
- ProShares plans to launch the ProShares Ultra CRCL ETF, targeting twice the daily return of CRCL stock.
- Bitwise is proposing the Bitwise CRCL Option Income Strategy ETF, using a covered call strategy for income generation.
- Neither fund has announced a ticker symbol yet. Proposed effective date for both is August 20, pending SEC approval.
These developments could enhance the integration of crypto-linked equities into traditional investment strategies.