Circle’s IPO Fuels Growth in Crypto ETFs, with Bitwise and ProShares Filing for Tracking Products

Following Circle’s explosive market debut on the NYSE, where shares soared 170%, both Bitwise and ProShares have filed for exchange-traded funds tied to Circle’s performance. The filing includes leveraged and covered call strategies aimed at capturing potential returns from the crypto company’s stock. This move reflects growing investor interest in crypto stocks amid the momentum behind the GENIUS Act, which aims to regulate stablecoins. Circle’s initial public offering (IPO) on June 5th saw a rapid surge in share price, prompting investment managers and fund managers to closely follow its performance.