CRCL Stock Surges 17% as Bitwise, ProShares File Bold Circle ETFs

Circle's stock (CRCL) skyrocketed 17% to $126.24 following ETF filings by Bitwise and ProShares, signaling renewed institutional interest in the recently IPO'd fintech firm. The surge coincided with heavy trading volume as market participants positioned for potential new exposure vehicles.

Bitwise's proposed CRCL Income ETF employs a covered call strategy targeting yield-seeking investors, while ProShares' Ultra CRCL ETF offers 2x daily leverage for tactical traders. Both products—slated for August 2025 launch pending approval—represent the first dedicated ETFs tracking Circle since its public debut.

The filings underscore growing demand for structured products around high-growth digital asset adjacents. Circle's post-IPO momentum continues defying broader crypto market doldrums, with its stock now up 42% since listing.