ProShares, Bitwise File for Circle ETFs After IPO Surge

- ProShares and Bitwise file for ETFs based on Circle Internet Group's stock. - Circle's stock surged nearly 200% on its IPO debut. On June 9, 2025, The Block reported that ProShares and Bitwise quickly filed for Circle-based ETFs, less than a week after Circle Internet Group began trading publicly. This action by the two firms followed Circle's (ticker CRCL) dramatic initial public offering (IPO) surge. For its IPO, Circle priced its shares at $31; however, on its first day of trading, the stock soared nearly 200%. This surge pushed its market capitalization to approximately $25 billion, and currently, the shares trade at around $115. ProShares has filed for the “ProShares Ultra CRCL fund,” a leveraged ETF designed to track twice the daily performance of Circle's Class A common shares. Meanwhile, Bitwise has filed for the “Bitwise CRCL Option Income Strategy ETF,” which will employ a covered call strategy. These ETFs were filed with the SEC on June 6, and both have proposed effective dates of August 20. According to CoinMarketCap, as of 17:09 UTC on June 9, USDC (symbol: USDC) traded at $1, representing a 0.008% change.