Circle Internet Group IPO Prices 61% Above Target Range

Circle Internet Group's initial public offering (IPO) was priced at $31 per share on June 4, 2025, surpassing its revised target range of $27 to $28. The company is scheduled to begin trading on the New York Stock Exchange under the ticker symbol CRCL. Early premarket indications suggest a price range of $50 to $52 per share, marking a 61% to 68% increase over the IPO price. This substantial rise highlights the strong investor demand for Circle's shares.

The IPO successfully raised nearly $1.1 billion, giving Circle a market capitalization of approximately $6.8 billion at the offering price. When including options and underwriter purchases, the valuation increases to around $8 billion. The offering was described as "massively oversubscribed," indicating that the demand exceeded the 34 million shares offered. This robust demand reflects the growing interest in crypto assets, as Bitcoin has gained over 35% since early April, and shares of Coinbase and Robinhood have also climbed. Market optimism has been further fueled by recent statements from President Donald Trump and SEC Chair Paul Atkins, who both support digital currencies and advocate for less aggressive regulation.

Circle's listing coincides with a recovering crypto market. The company issues USD Coin (USDC), a stablecoin pegged to the U.S. dollar, with a market cap of $61.5 billion, second only to Tether's USDT. USDC's value remains close to $1 due to its dollar backing, and despite lower volume, Circle remains profitable from interest on reserves and has shown consistent growth in earnings and revenue.

Analyst Jacob Zuller from Third Bridge believes that Circle could benefit from the proposed GENIUS Act, a bill aiming to regulate stablecoins in the U.S. Unlike Tether, which recently moved to El Salvador, Circle is based in New York City. Zuller predicts that clearer rules could help Circle expand its market share from 28% to 40%. This potential regulatory clarity could provide a significant boost to Circle's market position and growth prospects.

Circle's performance on its debut could influence future listings from other crypto firms. eToro Group and Galaxy Digital have already entered public markets, and if CRCL trades strongly on its debut, other blockchain companies could follow with IPO plans. The success of Circle's IPO is a positive indicator for the broader crypto industry, suggesting that there is strong investor appetite for companies operating in this space.