ProShares launches 2× leveraged ETF on Circle stock
ProShares has launched the Ultra CRCL ETF (ticker: CRCA), a 2× daily leveraged ETF offering amplified exposure to Circle Internet Group stock. As the issuer of USDC, the second-largest stablecoin by market cap, Circle’s shares have soared nearly 400% since their IPO but retraced over 25% in the past month. Trading commenced on August 6 on NYSE Arca with a starting NAV of $25 and an expense ratio of 1.08%. This margin-free leveraged ETF lets bullish traders double their daily gains on Circle stock without margin requirements. However, compounding effects can magnify losses during downturns. Traders should apply strict risk management and clear exit strategies. The product marks growing institutional interest in structured crypto-linked instruments and broadens regulated digital-asset offerings.
Neutral
The launch of a 2× leveraged ETF on Circle stock provides traders with amplified exposure and may boost trading activity but does not directly affect USDC’s stablecoin peg. In the short term, it offers a new tool for bullish strategies without impacting crypto prices. Long term, increased institutional use of structured crypto products could support broader USDC adoption, but as a stablecoin, USDC’s price remains unaffected. Overall, the market impact on USDC is neutral.