- Business
- Leverage Shares 2x Long CRCL Daily ETF (CRCG) is an actively managed exchange-traded fund that seeks to deliver two times (200%) the daily percentage change in the price of Circle Internet Group, Inc. (NYSE: CRCL) common stock, prior to fees and expenses; it achieves this leveraged exposure through swap agreements with major financial institutions such as Clearstreet, Marex, and Cantor, alongside cash equivalents and treasury obligations, with a portfolio typically comprising four holdings and daily rebalancing. The fund, listed on NASDAQ with ticker CRCG (CUSIP 88340C701), offers a total expense ratio of 0.75%, no margin call risk, and liquidity comparable to stocks, targeting sophisticated active traders who monitor positions frequently; it operates in the financials sector, specifically capital markets, with exposure to the United States market. Launched on August 11, 2025, CRCG has net assets exceeding $67 million, shares outstanding around 27-28 million, and focuses on short-term trading rather than long-term holding due to compounding effects and volatility decay.
Leverage Shares, the issuer founded in 2017 and headquartered in Greenwich, Connecticut, with additional offices in Dublin, Ireland, specializes in leveraged and inverse exchange-traded products (ETPs) and ETFs providing amplified daily exposure (up to 5x long or short) to single stocks, ETFs, indices, and commodities; products are physically replicated where possible and listed on major exchanges including NASDAQ, London Stock Exchange, Euronext, and Borsa Italiana. The firm serves institutional and retail investors across Europe and the United States, emphasizing low-cost access (often below market averages for single-stock leveraged ETFs) and custom solutions for third-party asset managers.
Recent developments include the August 2025 launch of CRCG itself amid rapid U.S. expansion, followed by multiple single-stock leveraged ETF introductions such as nine new 2x products on stocks like NU, NET, OKTA, TER, NEM, CMG, ABNB, SPOT, and SBUX in November 2025, and six more on Opendoor Technologies, Cipher Mining, Grab Holdings, Duolingo, Lithium Americas, and UPS in December 2025; additionally, Leverage Shares launched 19 new ETPs on the London Stock Exchange in September 2025, introducing the first 3x leveraged products on HOOD, HIMS, UNH, Intel, Broadcom, and ASML, alongside three new U.S. leveraged ETFs in April 2025. These expansions reflect over 86% year-over-year turnover growth through August 2025 and assets under management nearing $1.5 billion, underscoring strategic growth in single-stock leveraged offerings for active trading. No major acquisitions, funding rounds, or reorganizations for Leverage Shares or CRCG were reported in the past 1-2 years.