Circle, the issuer of the popular USDC stablecoin, is increasing both the number of shares and the price range for its upcoming initial public offering, reflecting rising investor enthusiasm. According to a Monday filing with the Securities and Exchange Commission (SEC), the company now targets a fully diluted valuation of up to $7.2 billion.
Originally planning to offer 24 million shares priced between $24 and $26 when it filed in May, Circle has raised its offering to up to 32 million shares, with a revised price range of $27 to $28 per share. This adjustment signals growing confidence and accelerating demand for Circle’s business among institutional investors.
High-profile backers appear to be fueling this momentum. Reports from May indicated that BlackRock, the world’s largest asset manager, is considering acquiring up to 10% of Circle’s IPO shares. Additionally, Ark Invest, led by Cathie Wood, has expressed interest in purchasing $150 million worth of Circle stock.
Circle’s public debut arrives at a pivotal moment for stablecoins, which have evolved far beyond their original role as niche tools for crypto trading. Today, stablecoins are integral to decentralized finance (DeFi), cross-border payments, and even traditional financial systems.
The combined market capitalization of all stablecoins currently stands at approximately $248 billion. Tether’s USDT dominates with a 62% share, valued at $154 billion, while Circle’s USDC follows with $60 billion, according to data from DeFiLlama.
