Circle IPO Surges Past Expectations, Raising $6.9B as Shares Debut Above Range
Circle, the issuer of the USDC stablecoin, launched its long-anticipated initial public offering (IPO) on Wednesday, pricing shares at $31—well above the marketed range of $24 to $26—amid strong investor demand.
The offering saw approximately 34 million shares sold, valuing the company at $1.1 billion. According to Bloomberg, the total amount raised through the IPO reached $6.9 billion, marking one of the largest public market debuts in the crypto sector to date.
Originally, Circle intended to float 24 million Class A shares, with 9.6 million coming directly from the company and the rest offered by early stakeholders. The stock is set to begin trading on the New York Stock Exchange (NYSE) under the ticker symbol CRCL starting Thursday.
This marks the second high-profile crypto listing under the Trump administration, following eToro’s public debut last month. Circle’s path to Wall Street has been years in the making. Its earlier effort to go public via a SPAC merger in 2021 ultimately fell through, but the company remained committed to reaching the public markets.
Circle is the issuer of USD Coin (USDC), the second-largest U.S. dollar-pegged stablecoin, which plays a central role in crypto trading and decentralized finance (DeFi) ecosystems. A public listing gives the firm greater access to capital and is expected to subject it to heightened regulatory scrutiny—potentially a net positive for credibility and investor trust in a volatile market.
The IPO arrives as U.S. lawmakers consider establishing clearer rules for stablecoin issuers. The timing could work in Circle’s favor, especially as regulators and public investors look for more transparent and compliant players in the crypto space.
Senator Bill Hagerty, lead sponsor of the Senate’s proposed stablecoin legislation, emphasized the urgency of regulatory clarity in an interview with Bloomberg on Wednesday. “There’s broad agreement on this bill,” Hagerty said. “This could modernize our payment infrastructure. Each stablecoin under this framework would be backed one-to-one by U.S. Treasuries—bringing transparency and consumer protection.”
With its listing, Circle becomes a bellwether for the maturing stablecoin sector and a potential benchmark for how digital asset firms transition into the regulated financial mainstream.
