Conformal arc-length as frac12 dimensional length of the set of osculating circles

The set of osculating circles of a given curve in $\SS^3$ forms a curve in the set of oriented circles in $\SS^3$. We show that its "${\frac12}$-dimensional measure" with respect to the pseudo-Riemannian structure of the set of circles is proportional to the conformal arc-length of the original curve, which is a conformally invariant local quantity discovered in the first half of the last century.