Circle (NYSE:CRCL), the second-largest stablecoin issuer in the world, posted a strong first-day performance.
The stock witnessed an incredible rise and kicked off on opening day at $69, up 122.5% from its $31 IPO price.
Due to excessive trading, the price was halted at $75 and later began to move in a few movements. At press time, the stock is priced at $100 with a market cap of around $25 to $30 billion
The company announced the pricing of its upsized initial public offering on June 4, 2025.The $USDC stablecoin issuer sold 14.8 million shares of its Class A common stock at an IPO price of $31 per share. In addition, existing stockholders will offer 19.2 million shares.
Details of the offering
Underwriters have the option to buy an extra 5.1 million shares within 30 days if demand is high. The offering is expected to close on June 6, pending standard closing conditions.
The firm said it will use its suite of products, including USDC, EURC, and the Circle Payments Network, to build a seamless layer for money on the internet.
Trading on the NYSE
Circle’s Class A common stock started trading on the New York Stock Exchange on June 5, 2025, under the ticker symbol “CRCL.” This marks a move from its previous OTCQX listing to a major U.S. stock exchange.
The shift will give Circle greater visibility and access to a broader range of investors.
Underwriters and Management
J.P. Morgan, Citigroup, and Goldman Sachs & Co. LLC are leading the offering as joint active bookrunners. Other firms involved include Barclays, Deutsche Bank Securities, and Societe Generale as bookrunners.
Co-managers include Santander, BNY Capital Markets, Canaccord Genuity, Needham & Company, and Oppenheimer & Co. Roberts & Ryan, AmeriVet Securities, Drexel Hamilton, and Mischler Financial Group, Inc. assume junior co-manager positions. These banks will assist with demand management, share marketing, and a seamless launch.
Also Read: Ripple CEO Denies Attempt Of Circle Acquisition, Emphasises Focus On Ripple’s Own Infrastructure
ARK’s Interest
UnoCrypto reported that Cathie Wood’s ARK Investment Management has signaled interest in buying up to $150 million worth of Circle’s shares, according to an SEC filing.
This potential investment underlines the growing appeal of companies tied to digital assets. ARK’s involvement could attract additional attention from institutional investors looking to gain exposure to the stablecoin market.
Circle’s Standing in the Crypto Industry
Founded by CEO Jeremy Allaire, Circle is one of the earliest players in the cryptocurrency space. It issues USD Coin (USDC), which ranks as the world’s second-largest stablecoin, holding 27% of the market. Tether’s USDT leads with 67% market share.
Circle also offers EURC, a euro-backed stablecoin, and has rolled out the Circle Payments Network to facilitate global money transfers.
Financial Performance
Although headquartered in Boston until earlier this year, Circle has shown strong financial growth. In 2024, the company reported $156 million in net income on revenue and reserve income totalling $1.68 billion, as per CNBC reports.
This represents a drop from 2023, when net income was $268 million on $1.45 billion in revenue. Despite the change, Circle continues to build products that bridge traditional finance and digital currencies.
With its successful IPO and impending NYSE debut, Circle is poised to expand its influence in the digital asset world. The funds raised will support growth initiatives, including expanding USDC, EURC, and the Circle Payments Network.
Also Read: Circle Internet raises $1.05B in upsized IPO at $31 per share, oversubscribed 25 times