Circle shares surged 168% on the day it went public

The company offered 34 million shares and raised $1,1 billion

USDC issuer saw its share price rise 168% on the day of its IPO

06.06.2025 - 11:00

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What’s new? On June 5, Circle, the issuer of USDC, the second-largest dollar-pegged stablecoin with a market capitalization of $61 billion, went public on the New York Stock Exchange (NYSE) through an initial public offering (IPO). On the first day of trading, the value of the securities under the ticker CRCL jumped 168% from its starting price of $31, closing at $83.

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What else is known? USDC plays a key role in the crypto ecosystem by providing a dollar-pegged token used for trading, lending in DeFi protocols, and making money transfers. The strong first-day result may reflect growing investor interest in stablecoin infrastructure.

The growth of Circle shares comes amid a surge in activity in the stablecoin market. USDC trading volume grew 22% overnight, while USDT from non-public company Tether, the largest stablecoin by market capitalization, showed a 13% increase in volume.

However, what matters for traders and analysts is whether the stock can hold its ground in the coming days and weeks. The IPO of leading US crypto exchange Coinbase 2021 on Nasdaq, which was initially touted as a watershed moment for the crypto industry, serves as a not-so-good example.

COIN trades opened at $381, the price briefly rose to $430 and then fell below $200 within a month. At the time of writing, their value is at $244, a 4,8% drop since the beginning of the year.

In total, Circle’s IPO raised $1,1 billion and the total number of shares outstanding reached 34 million. Initially, the company expected to raise $7,2 billion in its expanded IPO.

Earlier, the company launched a cross-border payment network, Circle Payments Network (CPN). The CPN protocol allows banks and payment service providers to securely make real-time settlements using USDC in public blockchains.

Also, the day before, the head of fintech company Ripple, Brad Garlinghouse, denied rumors about plans to buy Circle.

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