ProShares Launches Leveraged ETF Targeting Circle as CRCL Shares Soar 134%
ProShares has introduced the Ultra CRCL ETF (CRCA), offering investors a leveraged way to gain exposure to Circle (CRCL) shares, which have surged 134% since the company’s public debut in June on the New York Stock Exchange (NYSE).
The new ETF aims to deliver 2x the daily return of Circle’s stock, enabling short-term traders to capitalize on the growing momentum behind the firm’s expansion in crypto payments and tokenized finance.
Circle, the issuer of the USDC stablecoin, has seen increasing enterprise adoption amid legislative progress. Its infrastructure supports blockchain-based payments, asset tokenization, and developer tools across over 185 countries.
The ETF’s debut aligns with rising investor interest following the recent passage of the GENIUS Act, which established a U.S. regulatory framework for payment stablecoins. While further guidance from banking regulators is expected, the law marks a key turning point in formalizing how firms like Circle can operate within the financial system.
The CRCA ETF is designed for short-term trading, rebalancing daily to maintain its 2x exposure target. ProShares cautions that such products may deviate from expected returns if held over longer periods due to compounding effects.
This marks ProShares’ latest addition to its expanding lineup of digital asset ETFs, which includes funds tied to Bitcoin (BITO), Ethereum, Solana, and XRP.
Despite a muted IPO reception, Circle’s rapid stock gains and ProShares’ swift ETF rollout suggest growing market conviction in Circle’s role as a foundational player in the future of regulated crypto finance.
