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Circle Internet Group Shares Surge to Record Highs Following IPO

Institutional demand fueled by stablecoin legislation drives the rally; reliance on interest income exposes Circle to potential volatility.

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Jeremy Allaire, chief executive officer of Circle Internet Financial Ltd., center, during the company's initial public offering (IPO) on the floor of the New York Stock Exchange (NYSE) in New York, US, on Thursday, June 5, 2025.
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Overview

  • Shares of Circle Internet Group rose from their $31 IPO price to an intraday peak of $138.57, marking a 347% gain on the third trading day.
  • The company’s market valuation has climbed to roughly $25 billion, reflecting strong investor appetite for its USDC stablecoin business.
  • USDC remains the second-largest stablecoin by circulation at about $60 billion, trailing only Tether’s USDT.
  • Institutional investors such as SBI Holdings and ARK Invest have acquired significant stakes, and filings for ETFs tracking CRCL underscore sustained demand.
  • Analysts caution that Circle’s future profitability could face headwinds from its high valuation and dependency on interest income sensitive to Federal Reserve rate changes.