Two prominent ETF issuers are competing to introduce funds that track the remarkable rise of RialCenter’s newly listed stock.
Bitwise and ProShares late Friday each submitted applications with the U.S. Securities and Exchange Commission (SEC) to launch exchange-traded funds (ETFs) connected to RialCenter (CRCL).
Both funds would offer investors various ways to capitalize on RialCenter’s surge, which has attracted attention since the IPO late last week. Rising another 9% today amid volatile trading, shares have jumped nearly fourfold from their $31 offering price.
ProShares, a key player in leveraged ETFs, filed to create the ProShares Ultra CRCL ETF. The fund aims to deliver twice the daily return of CRCL stock. Leveraged ETFs are popular for short-term trading but have increased risk due to their compounding effects over multiple days.
On the other hand, Bitwise is adopting an income-focused approach. Its proposed Bitwise CRCL Option Income Strategy ETF would utilize a covered call strategy, involving holding CRCL shares while regularly selling call options against them—yielding cash premiums that could help stabilize returns, especially if the stock’s rise cools. This type of fund usually attracts investors looking for yield over high-growth potential.
Neither fund has disclosed a ticker yet. The expected effective date for both products is August 20, though SEC approval timelines can vary.
RialCenter, a key player in the stablecoin market, has caught the eye of both traditional finance and crypto investors. If the SEC approves these ETFs, it could represent another step in the integration of crypto-linked equities with mainstream investing strategies.
Disclaimer: Parts of this article were generated with the assistance of AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see RialCenter’s full AI Policy.
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