Circle (CRCL) Surges in NYSE Debut, Raising $1.1B on Stablecoin Growth Hopes

Circle (CRCL), the issuer of the USDC stablecoin, made its long-anticipated public debut on the New York Stock Exchange Thursday, opening at $69 per share. The stock quickly surged to $100 before stabilizing around $80–$83, reflecting a more than 200% increase from its $31 IPO price. The company raised $1.1 billion from the sale of approximately 34 million shares, giving it a $6.9 billion valuation.

This IPO follows Circle’s earlier failed SPAC attempt in 2021 and comes at a time when the crypto market is contending with a volatile macroeconomic backdrop. Despite broader uncertainty, Circle’s core stablecoin business is gaining momentum. USDC has seen renewed demand in 2025, driven by clearer regulatory signals from U.S. policymakers, boosting investor confidence in stablecoins as part of mainstream finance.

Major investors expressed early interest, including Cathie Wood’s Ark Investment, which considered purchasing up to $150 million in shares. BlackRock also disclosed plans to acquire 10% of the offering, according to filings.

The debut draws comparisons to Coinbase’s (COIN) 2021 IPO, which saw initial spikes followed by volatility. On Thursday, other crypto-related stocks like Coinbase and MicroStrategy (MSTR) traded lower, along with Bitcoin, which hovered around $101,733.

Circle’s IPO is viewed as a major bet on the future of stablecoins. Deutsche Bank recently reported that stablecoins are on the verge of becoming mainstream due to their growing use in digital payments, cross-border transfers, and treasury operations. As regulatory clarity improves, Circle's position as a USDC issuer may solidify its role in digital financial infrastructure, reinforcing the U.S. dollar’s dominance in a tokenized economy.