ProShares Launches Ultra CRCL ETF to Double Daily Returns of Circle Stock
ProShares has launched the ProShares Ultra CRCL ETF (CRCA), designed to double the daily performance of Circle's stock. The ETF started trading following Circle's recent IPO on the NYSE, where its shares have increased by 134%, influenced by USDC stablecoin adoption and legislative support for digital payments.
- CRCA offers leveraged exposure without borrowing directly.
- The ETF is tailored for short-term trading and may not perform as expected over longer periods due to daily rebalancing.
- The launch coincides with U.S. regulatory developments, including the GENIUS Act, which clarifies the legal framework for payment stablecoins.
- ProShares continues to expand its portfolio of over 150 ETFs, including funds linked to major cryptocurrencies like ether and XRP.
Circle’s stock performance indicates strong investor interest in its role within the evolving crypto payments landscape.