Two well-known ETF issuers are struggling to bring funds to market the explosive increase in Circle’s recent public share.
Bitwise and Proshares Late Friday, each applications submitted with the US Securities and Exchange Commission (SEC) to launch stock -trading funds (ETFS) tied to Circle (CRCL).
Both funds would give investors different ways of playing the Circle’s wave, which has turned heads since the IPOs late last week. Up another 9% today in unstable actions, stocks are almost quadrupled from their $ 31 offer price.
Proshares, a big name in geared ETFs, filed to create Proshares Ultra CRCL ETF. The fund is designed to give twice the daily return of the CRCL share. Leveraged ETFs are popular for short -term trades, but have increased risk due to their compound effects over several days.
Bitvis, on the other hand, takes a more income -focused route. Its suggested Bitvise CRCL Option Income Strategy ETF would use a covered call strategy. It involves having CRCL shares while regularly selling call options against them – generating cash prizes that can help smooth returns, especially if the stock rise is cooled. This type of fund typically appeals to investors looking for dividends rather than high octane growth.
None of the fund has revealed a ticker yet. The proposed effective date for both products is August 20, although SEC approval time lines may vary.
Circle, already a central player in the stableecoin market, has drawn attention from traditional finance and cryptoinvestors. If SEC loggs out on these ETFs, they could mark another step in the mixture of cryptom-linked shares and mainstream investment strategies.
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