Overview
- Circle sold 34 million shares at $31 each, topping its marketed $27–$28 range and raising $1.1 billion in proceeds
- The stock opened at $69 on June 5, climbed as high as $103.75 and closed at $83.29, valuing Circle near $18 billion at peak trading
- Circle is the issuer of USDC, the world’s second-largest stablecoin with roughly $61 billion in circulation
- ARK Investment and BlackRock signaled plans to acquire significant stakes, underscoring strong institutional appetite for crypto assets
- Analysts say the breakout debut may prompt other crypto firms to pursue public listings as Congress advances stablecoin legislation