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Bitwise and ProShares Race to Launch Circle (CRCL)-Linked ETFs Following Explosive IPO
Bitwise and ProShares Race to Launch Circle (CRCL)-Linked ETFs Following Explosive IPO
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Two major ETF issuers are capitalizing on Circle's blistering post-IPO performance with specialized fund offerings. ProShares seeks SEC approval for a 2x Leveraged CRCL ETF, targeting short-term traders willing to shoulder compounded risk. Meanwhile, Bitwise pursues an options-income strategy—selling covered calls against CRCL holdings to generate yield for risk-averse investors.
Circle's shares continue defying expectations, up 9% today after nearly quadrupling from their $31 debut price. The filings signal institutional confidence in sustaining this momentum, though both strategies hedge against potential volatility. ProShares leverages its expertise in aggressive instruments, while Bitwise appeals to income-focused portfolios.
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