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Circle Dominates Digital Asset Index Amid Stablecoin Surge
Circle Dominates Digital Asset Index Amid Stablecoin Surge
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BTCCSquare news:
Circle (CRCL) has claimed the top weighting in VanEck’s MVIS Global Digital Assets Equity Index, surpassing heavyweights like Coinbase and MicroStrategy. The stablecoin issuer now represents 13% of the index—a remarkable feat for a recently public company. VanEck’s Digital Transformation ETF, which tracks the index, holds $210 million in assets and now owns more CRCL shares than Circle’s own CEO.
In a market anomaly, Circle’s stock valuation eclipsed the market cap of its USDC stablecoin just 12 days post-IPO. Shares skyrocketed from $31 to $254, fueled by legislative momentum around the GENIUS Act. The Senate-approved stablecoin bill has positioned Circle as a central player in the future of digital asset infrastructure.
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