David Edwards
Circle Internet Group, the issuer of the USDC stablecoin, has successfully raised $1.05 billion in its initial public offering (IPO), pricing 34 million shares at $31 each. This move reflects a notable increase from its previously marketed range of $27 to $28 per share and positions Circle at a valuation of approximately $6.9 billion based on the more than 220 million outstanding shares.
Underwriters have a 30-day option to buy an extra 5.1 million shares as part of the transaction. On June 5, 2025, shares are expected to start trading on the New York Stock Exchange under the ticker symbol “CRCL.”
Strong investor demand and increased interest in crypto-focused businesses entering conventional public markets coincide with Circle’s expanded offering. With over $61 billion in circulation, Circle-managed USDC is presently the second-largest stablecoin by market capitalization.
The money raised from the IPO will be used for a number of strategic initiatives, such as financing global expansion, making investments in the creation of new products, and exploring possible acquisitions. Circle intends to keep earnings for company expansion rather than paying dividends, per regulatory filings.
Institutional trust in Circle’s long-term potential has been strengthened by the announcement by asset management behemoth BlackRock that it intends to purchase at least 10% of the IPO shares.
Circle is attempting to go public for the third time. It halted preparations after filing with the SEC in April due to market turbulence brought on by announcements of U.S. tariffs. An Irish holding company was involved in a previous 2021 SPAC proposal that eventually fell through.
Circle’s listing comes as a number of other cryptocurrency companies get ready to go public. Exchanges like Kraken and custody services provider BitGo are apparently considering similar actions after eToro recently expanded the amount of its first public offering (IPO) to $620 million. Coinbase, which debuted on the Nasdaq in 2021, is still the most well-known cryptocurrency company to go public in the United States.
