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Circle Surges Over 230% on IPO Debut — Will Crypto Enter an IPO Boom?
2025-06-06 08:07
TradingKey – Stablecoin giant Circle saw its stock soar over 230% on its first trading day, with Arthur Hayes predicting a wave of crypto IPOs ahead.
On Thursday, June 5, Circle Internet Group (CRCL), issuer of the world’s second-largest stablecoin USDC, officially debuted on the New York Stock Exchange — jumping 235% on its first day.
Market data shows:
- IPO price was set at $31
- Shares peaked at $104.75, triggering two circuit breakers
- Closing price landed at $83
In 2022, Circle attempted an IPO via a Special Purpose Acquisition Company (SPAC) but failed due to regulatory challenges.
This time, Circle’s successful listing was fueled by pro-crypto policies under the Trump administration, paving the way for more blockchain-based firms to pursue IPOs.
According to Arthur Hayes, co-founder of BitMEX, Circle’s IPO could spark a wave of crypto public offerings. Hayes expressed his optimism in a social media post yesterday,"What a glorious day! Has the spirit of 2017 ICOs transformed into the IPO boom of 2025-2027? This is just the beginning of the mania."
