Key Takeaways:
- Circle’s stock surged 167% on its NYSE debut, closing at $82 after opening at $31 under the ticker CRCL.
- The IPO raised $1.05 billion with major backing from BlackRock and ARK Investment.
- Some early supporters, like Arca, voiced frustration over limited IPO share allocations.
Circle, the issuer of USDC, surged 167% on its June 5 NYSE debut under the ticker CRCL, closing at $82 after opening at $31.
The company raised $1.05 billion through the sale of 34 million shares, reflecting strong investor demand.
The NYSE welcomes @circle in celebration of its IPO! For over a decade, Circle has connected traditional finance and digital assets, seeking to create a secure, always-on digital economy. $CRCL@jerallaire pic.twitter.com/YnHL34puz7
— NYSE 🏛 (@NYSE) June 5, 2025
Interest from major institutions like BlackRock, which planned a 10% stake, and ARK Investment’s reported $150 million buy-in contributed to the excitement.
Despite months of IPO delays due to macroeconomic concerns, Circle’s entry signals rising appetite for digital asset firms.
However, not all reactions were positive.
Jeff Dorman, CIO of Arca and an early supporter, criticized the minimal share allocation given to his firm, calling it a betrayal of crypto’s community-driven ethos.
In a now-deleted post, Dorman lamented Circle’s shift toward traditional finance, remarking that the company had ironically “come full Circle.”
The debut highlights both the potential and tensions surrounding crypto firms entering public markets.
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