ProShares and Bitwise Jump on Circle's IPO Bandwagon with New ETFs!

Double Down or Play it Safe? New ETFs Bet Big on Circle's Stock

Just days after Circle Internet Group's jaw-dropping IPO, ProShares and Bitwise are throwing their hats in the ring with new ETFs tied to Circle's stock. Talk about jumping in with both feet!

ProShares is going all in with the Ultra CRCL, aiming to deliver a whopping twice the daily performance of Circle's stock using some serious leverage. Not to be outdone, Bitwise is rolling out the CRCL Option Income Strategy ETF, playing it smart with a covered call strategy. They're selling call options on CRCL stock to rake in some extra cash while keeping an eye on the downside. Both ETFs are set to hit the ground running on August 20th this year.

These bold moves come hot on the heels of Circle's high-profile IPO, showing just how much faith institutions have in the brains behind the world's second-largest stablecoin by market cap. And let's not forget, Circle's the first stablecoin to get the green light under the EU's MiCA regulation. That's a game-changer, folks!

But it's not just the U.S. that's buzzing about Circle. Across the Pacific, Japan's SBI Holdings is dropping a cool $50 million into Circle through its banking arm, SBI Shinsei Bank. Circle's pulling in big bucks from all corners of the globe!

Circle's IPO hit the New York Stock Exchange like a storm on June 5th. Shares kicked off at $31 and skyrocketed 170% on day one. And if that wasn't enough, they shot up another 16% in pre-market trading the next morning. At its peak, the stock was trading over $117, pushing Circle's market cap past a mind-blowing $20 billion. Big players like BlackRock snapped up a 10% stake, while Ark Invest threw in $150 million. This is the kind of action that gets the crypto world buzzing!