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2mo ago

Circle’s Shares Soar Over 200% in NYSE Debut Following $1.1 Billion IPO

Institutional demand after the IPO’s above-range pricing reflects rising confidence in stablecoins ahead of federal regulation

Jeremy Allaire, CEO and co-founder of Circle Internet Group, the issuer of one of the world's biggest stablecoins, reacts to the price of first trade, on the day of the company's IPO, at the New York Stock Exchange (NYSE), in New York City, U.S., June 5, 2025. REUTERS/Brendan McDermid/File Photo
Trader Fred Demarco works on the floor of the New York Stock Exchange, Tuesday, June 3, 2025. (AP Photo/Richard Drew)
Traders work on the floor at the New York Stock Exchange (NYSE), on the day of Circle Internet Group's IPO, in New York City, U.S., June 5, 2025. REUTERS/Brendan McDermid

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