Circle, one of the world’s leading issuers of USDC—a stablecoin pegged to the U.S. dollar—had a significant first day as a publicly traded company. When it debuted on the New York Stock Exchange on June 5, Circle’s stock price soared to $83.23, an impressive 168% jump above its initial offering

• Circle, issuer of the USDC stablecoin, raised over $1 billion through its IPO on the NYSE.
• The stock price soared nearly 300% in two days, rising from $31 to a peak above $120 before settling near $94.50.

Circle, one of the world’s leading issuers of USDC—a stablecoin pegged to the U.S. dollar—had a significant first day as a publicly traded company. When it debuted on the New York Stock Exchange on June 5, Circle’s stock price soared to $83.23, an impressive 168% jump above its initial offering price of $31 per share set just a day earlier. This strong market debut highlights growing investor enthusiasm for cryptocurrencies, especially stablecoins, amid supportive policies from the current U.S. administration.

By the end of its first trading session, Circle’s market value (excluding employee options) reached approximately $16.7 billion (currently $23.75 billion), underscoring the significant interest in crypto-related businesses. The company raised about $1.05 billion through the sale of 34 million shares, a mix of new stock and shares sold by existing shareholders. Notably, the stock surged even higher in the following days, reaching an intraday high of $123.51 on the second day before settling at $94.50, nearly tripling its IPO price.

Circle’s remarkable IPO performance places it among the most successful public offerings in the fintech and crypto sectors, outperforming recent notable IPOs from giants like Airbnb, Meta, and Robinhood. The company’s fully diluted valuation now stands at an impressive $32.1 billion.

Despite this success, Circle’s journey to the public markets hasn’t been straightforward. This IPO follows a previous attempt in 2022 to go public via a SPAC (special purpose acquisition company) deal that valued the firm at $9 billion, but that plan did not materialize.

GENIUS Act Could Boost Regulated Stablecoins

USDC, Circle’s flagship stablecoin, boasts a supply of around $61.11 billion and plays a crucial role in the digital economy. It is widely used in decentralized finance (DeFi), cross-border payments, and digital settlements. The prospect of the GENIUS Act—legislation currently moving through U.S. Congress—could further strengthen the standing of regulated stablecoins like USDC by providing clearer rules and protections, which in turn boosts investor confidence.

The strong backing for Circle’s IPO came from major investment firms such as BlackRock, ARK Invest, Fidelity, and General Catalyst, highlighting institutional interest in crypto’s evolving landscape. Market experts believe that Circle’s success could be a signal of broader momentum returning to the IPO market, especially after a cautious period marked by economic uncertainties and geopolitical concerns.

Matt Kennedy, a senior strategist at Renaissance Capital, commented that Circle’s IPO is more than just a crypto milestone—it reflects renewed energy in the IPO space overall. While he expects moderate IPO activity in the near term due to ongoing tariff uncertainties, he is optimistic about a more robust IPO rebound in the fall.

Industry leaders echo this positive outlook. Lynn Martin, President of the New York Stock Exchange, described Circle’s IPO as a “bellwether” for the IPO market this year, suggesting it’s not just about crypto but about the quality of companies ready to enter public markets. Nasdaq CEO Adena Friedman also noted that despite persistent uncertainties, investors are keen to put their money to work, which bodes well for upcoming offerings.

Highlighted Crypto News Today: 

Pudgy Penguins Shows Signs of Life with 8% Gain Amid Bearish Pressure