Two known ETF emitters are competing to bring funds to the market that track the explosive ascent of the public actions of Circle.
Bitwise and Proshares on Friday night, each submitted requests with the US stock and values commission. UU. (SEC) to launch funds quoted in the stock market (ETF) linked to Circle (CRCL).
Both funds would give investors different ways of playing the increase in the circle, which has drawn attention from the IPO at the end of last week. Another 9% today in volatile action, the shares have almost quadrupled of its offer price of $ 31.
Proshares, an important name in the ETF leisurely, filed to create the ETF Ultra Crcl Proshares. The fund is designed to provide twice the daily return of CRCL actions. The ETF leveraged are popular for short -term operations, but lead to a high risk due to their composition effects for several days.
Bitwise, on the other hand, is taking a more centered route on income. Its BIT CRCL option income strategy ETF proposal would use a covered call strategy. This implies maintaining CRCL shares while regularly selling purchase options against them, which generate cash premiums that could help soften performance, especially if the increase in action cools. This type of fund generally attracts investors seeking performance instead of high octane growth.
None of the funds has revealed a ticket. The date of validity proposed for both products is August 20, although the terms of approval of the SEC may vary.
Circle, who is already a central player in the Stablecoin market, has caught the attention of traditional finance and cryptography investors alike. If the SEC signs these ETFs, they could mark another step in the combination of actions related to cryptographic and conventional investment strategies.
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