ProShares Launches First Single-Stock ETF Targeting 2x Daily Returns of Circle Internet Group
Aug 07, 2025
World’s largest provider of leveraged and inverse ETFs expands lineup with new way to express a bullish view on global stablecoin leader.
BETHESDA, Md. – ProShares, the world’s leader in leveraged and inverse ETFs, today announced the launch of ProShares Ultra CRCL (NYSE: CRCA)—the first and only ETF designed to target 2x the daily returns of Circle, a company that has captured investor attention following its breakthrough IPO. Since listing on the New York Stock Exchange in June, Circle’s market capitalization has increased nearly fivefold,1 amid growing momentum in digital asset adoption.
Founded in 2013, Circle operates one of the world’s largest stablecoin networks. Stablecoins—which are digital assets backed by real-world currencies like the U.S. dollar—combine the efficiency of crypto with the price stability of fiat currency. The stablecoin industry received a major boost with the signing of the GENIUS Act on July 18, which established a clear U.S. regulatory framework for payment stablecoins.2 Beyond its stablecoin business, Circle also supports tokenized funds, developer tools for blockchain infrastructure, and a payments network that spans more than 185 countries.3
"CRCA offers investors a new way to magnify a bullish view on one of the most innovative companies in digital finance—without borrowing on margin,” said ProShares CEO Michael L. Sapir. “With CRCA, investors can now target 2x daily returns of Circle through the convenience and transparency of an ETF.”
CRCA joins ProShares’ expansive lineup of more than 150 ETFs. That lineup includes flagships like ProShares UltraPro QQQ (TQQQ)—the world’s largest leveraged ETF, with over $25 billion in assets4—and ProShares Bitcoin ETF (BITO), the first bitcoin-linked ETF to launch in the U.S. in 2021. The company also offers the largest lineup of crypto ETFs in the U.S. by number of listings,5 spanning a wide range of strategies targeting bitcoin, ether, Solana, and XRP.
ProShares pioneered the broader leveraged and inverse ETF category nearly two decades ago and remains the largest provider in the space today.6
About ProShares
ProShares has been at the forefront of the ETF revolution since 2006. ProShares manages over $90 billion in assets and offers one of the largest lineups of ETFs. The company is a leader in strategies such as crypto-linked, dividend growth, high income, interest rate hedged bond and geared (leveraged and inverse) ETF investing. ProShares continues to innovate with products that provide strategic and tactical opportunities for investors to manage risk and enhance returns.
2 Reuters, as of July 18, 2025
3 Circle, as of July 31, 2025
4 Bloomberg, as of July 31, 2025
5 Bloomberg, as of July 31, 2025
6 Morningstar, as of July 31, 2025
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212.207.9451
Tucker@hewescomm.com
866.776.5125