Bitwise and ProShares Race to Launch Circle-Themed ETFs Amid Post-IPO Surge

Two major ETF issuers are capitalizing on Circle's explosive market debut with competing fund offerings. ProShares seeks SEC approval for a Leveraged ETF delivering 2x daily returns on CRCL stock, while Bitwise pitches a covered-call strategy targeting income-focused investors. Both filings arrived Friday as Circle shares continue their meteoric rise—up 9% today alone after nearly quadrupling from their $31 IPO price.

The ProShares Ultra CRCL ETF caters to short-term traders willing to stomach compounded volatility risks. Meanwhile, Bitwise's options-based approach aims to generate premium income, potentially appealing to investors wary of sustaining Circle's current growth trajectory. Neither firm has disclosed tickers yet, with both targeting a late August launch pending regulatory review.