Overview

• Shares of CRCL climbed to an intraday high of $138.57 on June 9, marking a 347% gain from its $31 IPO price
• Circle raised $1.05 billion by selling 34 million shares at $31 each, valuing the company at $8.1 billion on a fully diluted basis
• Major investors such as SBI Holdings and ARK Invest secured significant allocations while at least three ETFs linked to CRCL have been filed
• Circle’s revenue, generated from interest on reserves backing its USDC stablecoin, remains vulnerable to changes in U.S. interest rates
• Analysts expect Circle’s market debut to encourage more cryptocurrency firms to pursue IPOs, with future expansion contingent on stablecoin usage and regulatory clarity