Key dealers
- Proshares and Bitwise have applied for ETFS tracking Circle Stock shortly after Circle became public.
- Circle Stock increased almost 200% shortly after its IPO and has a market value of about $ 25 billion.
Proshares and Bitwise are looking for the Sec-Nicken to start stock exchange trained funds tied to shares in Circle Internet Group, which started shopping at the New York Stock Exchange (NYSE) last week.
Proshares proposed fund, Proshares Ultra CRCL ETFis designed to deliver daily returns twice the size of Circle’s Stock (CRCL).
Bit by bit planning in the meantime Bitfully CRCL Option Income Strategy ETFAn income -focused product aimed at tracking CRCL through alternative strategies while generating returns from call option premiums.
Both companies submitted their respective ETF applications on June 6, less than 24 hours after Circle became public at NYSE. The proposed ETFs are planned to enter into force on August 20, 2025, pending legislative approval.
Circle, the issuer of USDC Stablecoin, made a arousing Wall Street debut, with its market valuation that quadrupled its stock exchange price of $ 31 per share at the end of the second trading day. The company’s decision to publish is generally seen as a strategic success and places it together with other crypto-in-born companies in the public markets.
The share reached as high as $ 137 on Monday morning, which cards drive Circle market valuation to $ 27 billion, according to Yahoo Finance data.
At the time of writing, CRCL traded about $ 114, an increase of about 6% a day.
The USDC maintains a market value of approximately $ 61 billion, others to Toth’s USDT to $ 154 billion per coytecko.
