Shares of Circle (CRCL) began trading on the New York Stock Exchange (NYSE) on Thursday, opening early trading at $69 per share. Points’ stocks skyrocketed to $100, more than 200% above the $31 price it set the previous night.
The company announced late Wednesday that it sold about 34 million shares in its first public offering, raising $1.1 billion and earning a $6.9 billion valuation. The list shows the long-awaited arrival of the circle at the highly anticipated public market after previous attempts, including a 2021 SPAC deal failure.
Cathie Wood’s Ark Investment Management has also expressed interest in purchasing 10% of the shares, according to SEC File and Bloomberg. BlackRock also intends to buy 10% of the shares, and is interested in purchasing $150 million in circle shares.
The IPO draws a comparison between the Crypto Exchange Coinbase (Coin) 2021 IPO and the Nasdaq IPO.
Elsewhere, crypto chain stocks and bitcoin including Coinbase and Strategy (MSTR)
trading was low on Thursday. Circle’s shares appear to have stabilized from around $80 to $83 per share.
The circle’s debut has landed in a market that is still wrestling in an uncertain macroeconomic environment. The revenue season is over, with more companies flagging stronger outlooks than the next quarter, suggesting that U.S. stocks could face additional pressure in the coming months.
However, Circle’s core business – issuing USDC tokens where dollars are imposed – benefits from different trends. Demand for Stablecoins increased in 2025. This is partly due to progress in US regulations. Policymakers have shown they are approaching the establishment of clearer rules, which could help justify and expand the use of stubcoins in mainstream finance.
In a report last month, Deutsche Bank predicted that Stablecoins are on the verge of becoming mainstream. The banks cited their growing role in digital payments, cross-border settlements and financial management, simultaneously strengthening the US dollar’s advantage worldwide.
Circle’s IPO may be evidence of the early shift. Investors will not only be crypto companies, but Stablecoins will become an essential financial infrastructure.
Read more: Circle IPO Filing Test Trust in Crypto Market after Trump’s Tariff Shock
Update (June 5, 17:09 UTC): Add price actions and additional context for comparing shareholders and Coinbase IPOs.
Disclaimer: Some of this article was generated with the support of AI tools and reviewed by our editorial team to ensure accuracy and compliance with the standards. For more information, see Coindesk’s complete AI policy.
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