‘Ultra CRCL’ ETF by ProShares Lets Investors Amplify Circle Stock Bets

ProShares Unveils Ultra CRCL ETF to Leverage Circle Stock Surge

ProShares has launched the Ultra CRCL ETF (CRCA), a leveraged fund offering investors double the daily performance of Circle’s stock (CRCL), which has climbed 134% since the company went public in June on the NYSE.

The ETF gives traders the ability to make amplified bets on one of the most prominent companies in digital finance without taking on direct leverage. It arrives as Circle gains momentum from growing USDC adoption and recent U.S. legislative support for digital payments.

Circle, known for issuing the USDC stablecoin, also offers tokenized asset infrastructure, developer tools, and global payment solutions across more than 185 countries.

The launch comes amid evolving U.S. stablecoin regulation. The passage of the GENIUS Act in July provided the first clear legal framework for payment stablecoins, paving the way for regulated players like Circle to operate with more clarity. However, final rules from federal banking agencies are still pending.

The CRCA ETF is designed for short-term trading, with daily rebalancing to maintain 2x exposure. As with all leveraged ETFs, performance can deviate over longer holding periods due to compounding effects.

ProShares now offers over 150 ETFs, including the UltraPro QQQ, BITO (a bitcoin futures ETF), and funds tracking Ethereum, Solana, and XRP.

Circle’s IPO may have flown under the radar initially, but its performance—and now a leveraged ETF—signal growing institutional confidence in the company’s role at the intersection of crypto and traditional finance.