Shares of Circle (CRCL) started shopping on the New York Stock Exchange (NYSE) Thursday and opened at $ 69 per Share in the early trade. The stock at the point rose to as much as $ 100, more than 200% over the $ 31 price it had set the night before.
The company announced late Wednesday that it sold approx. 34 million shares in its original public offer, raised $ 1.1 billion and landed a $ 6.9 billion valuation. List Marks Circle’s long-awaited arrival in public markets after previous trials, including a failed SPAC agreement in 2021.
Cathie Wood’s Ark Investment Management expressed interest in buying as much as $ 150 million worth of the Circle shares, with Blackrock, which also intended to buy 10% of the shares, according to SEC archives and Bloomberg.
IPO comparisons with Crypto Exchange Coinbase’s (Coin) 2021 IPO on Nasdaq, which saw an unstable session with shares that traded as high as $ 430 before tumbling to $ 200 a month later.
Elsewhere crypto-connected stocks, including Coinbase and Strategy (MSTR), along with Bitcoin
acted lower on Thursday. Circle’s shares appear to have stabilized about $ 80 to $ 83 per day. Stock.
Circle’s debut is landing in a market that is still struggling with an uncertain macroeconomic environment. The earnings season will be wound up and more companies have marked weak prospects for the next quarter than strong, suggesting that US shares could be subjected to extra pressure in the coming months.
However, Circle’s core business issuance of Dollar-Pegged USDC-token dragons benefits from another trend. The demand for stableecoins has grown in 2025, partly due to progress with US regulation. Politicians have signaled that they are moving closer to establishing clearer rules, which can help legitimize and expand the use of stablecoins in mainstream financing.
Deutsche Bank predicted in a report last month that stableecoins are on the verge of going mainstream. The bank cited their growing role in digital payments, cross -border settlement and the Ministry of Finance, while also strengthening the US dollar dominance globally.
Circle’s IPO can be early proof of this shift – an investor rate not only on a cryptic business, but on stablecoins that become important financial infrastructures.
Read more: Circle’s IPO archiving tests Crypto Market Trust after Trump’s Customs Bump
Update (June 5, 17:09 UTC): Adds price action and additional context on shareholders and coinbase IPO comparison.
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