Circle removed from Russell indexes, potentially impacting liquidity
Circle was removed from several major Russell Growth Indexes during the annual reconstitution on June 26.
The move could prompt institutions and passive funds tracking these benchmarks to reduce their holdings.
CRCL shares have fallen 32.8% over the past 30 days, likely reflecting selling pressure from the index rebalancing. CRCL fell to $62 today, down 16.55% over the past 24 hours, following news that competitor Open Standard launched the alliance stablecoin Open USD.