On June 5, Circle's shares opened approximately 124.19% higher than the IPO price of $31, debuting at $69.50.
Initially, the shares were set to start trading somewhere between $50 and $52 — a pop of more than 60% beyond its IPO price. The stablecoin issuer, selling 34 million shares priced above the initial range in a sign of surging demand, raised $1.1 billion in its offering.
Due to high demand, the stablecoin issuer increased its IPO from a planned 24 million shares. Circle is now worth anywhere from $6.8 billion to $8 billion on a fully diluted value.
The company that powers the USDC stablecoin will start trading today on the New York Stock Exchange under the ticker symbol CRCL.
Circle Internet Group Inc.'s initial public offering (IPO) was led by major financial institutions (J.P. Morgan, Citigroup, and Goldman Sachs) as joint lead and active bookrunners of the offering, as per Reuters.
Along with the bookrunners, Barclays, Deutsche Bank Securities, and Société Générale acted as underwriters and bookrunners of the deal, BNY Capital Markets, Canaccord Genuity, Needham & Company, Oppenheimer & Co., and Santander acted as co-managers.
Adding to the frenzy is an investment from BlackRock, which is reportedly set to purchase 10% of the offering. Further, Cathie Wood’s Ark Invest has signaled plans to purchase up to $150 million worth of Circle stock at the IPO price.
The IPO by Circle comes at a time when digital assets are enjoying increased acceptance. Circle’s leading product is USDC, a dollar-denominated digital currency that is widely used in decentralized finance and for global payments.
Notably, Billionaire Chamath Palihapitiya also spoke in support of Circle saying,
"It looks like Circle’s IPO is 25x oversubscribed, valuing the company at around $7b. If someone can buy it for even $12-13b, that’s a steal, imo, for what this business could be worth in 20 years. Circle has built the entire market structure for stablecoins well before it will formally exist in the U.S. (i.e. ahead of the GENIUS bill)," he said.
This story was originally reported on Jun 5, 2025. This article has been published in TheStreet via Yahoo News.
