Anushka Basu
1 min read
Circle stock hits $115 on second day of NYSE debut originally appeared on TheStreet.
Circle Internet Group Inc. (NYSE: CRCL), the crypto company behind the USDC stablecoin, continued its meteoric rise on June 6. At press time, CRCL is priced at $115, up by over 25% in the last 24 hours, briefly touching $100.
The price surge followed a spectacular IPO debut the day before, when shares opened at $69, 124.19% above the IPO price of $31.
Fueled by strong demand from institutional investors, Circle raised $1.1 billion through its public offering and increased the number of shares sold from 24 million to 34 million shares—a significant increase for investors. Its valuation on a fully diluted basis stands at more than $22 billion at press time.
The initial public offering was underwritten by a group of financial giants, including J.P. Morgan, Citigroup, and Goldman Sachs. Barclays, Deutsche Bank, Société Générale, and other financial institutions also participated. Interest from major players — such as BlackRock, which is poised to acquire 10% of the offering — further fueled enthusiasm.
Furthermore, on June 5, ARK Invest purchased 4.48 million shares of CRCL for $373 million at the closing price of $83.23. The firm also cut its holdings in other crypto stocks such as Coinbase (Nasdaq: COIN), Robinhood (Nasdaq: HOOD), etc.
Circle's rapid rise coincides with a renewed moment of interest in stablecoins as Big Tech considers integrations.
Stablecoins are cryptocurrencies whose value is tied to another asset, such as a fiat currency or gold, in order to maintain a stable price. Circle's stablecoin USD Coin (USDC), for instance, is pegged to the US dollar.
Circle stock hits $115 on second day of NYSE debut first appeared on TheStreet on Jun 6, 2025
This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared.
