Circle Internet extends its Wall Street momentum, with shares surging another 48% after a blockbuster IPO, signaling a revival in the U.S. IPO market.
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| With a soaring second day on the NYSE, Circle’s dramatic market entrance signals investor confidence in fintech and crypto amid persistent economic uncertainty. Image: CH |
New York, USA – June 7, 2025:
Circle Internet, the New York-based issuer of stablecoins, continued its explosive Wall Street debut with a 48% surge in stock price on Friday, capping off a dramatic two-day rise that has reignited enthusiasm in the U.S. IPO market.
After a standout listing on the New York Stock Exchange a day earlier, Circle’s shares reached as high as $123.49—nearly four times its IPO offer price of $31—giving the firm a staggering valuation of $32.1 billion on a fully diluted basis. The performance stands as one of the most impressive post-IPO rallies in recent fintech history.
“This is big enough that it extends beyond crypto,” said Matt Kennedy, senior strategist at Renaissance Capital, emphasizing that Circle's debut reflects broader investor appetite for new listings. “It’s a sign of building momentum in the IPO market.”
Market watchers are now cautiously optimistic that the long-stagnant IPO sector—hampered in recent months by tariff volatility and supply chain concerns—is regaining its footing. NYSE President Lynn Martin called Circle’s debut a “bellwether” not just for crypto-adjacent companies, but for the public listing environment overall.
That sentiment was echoed at an industry conference where Nasdaq CEO Adena Friedman highlighted investor resilience in the face of global uncertainties. “People are realizing this volatility may persist, and they’re focused on putting capital to work,” she said.
IPOX analyst Lukas Muehlbauer noted that recent successful IPOs have tended to come from companies less exposed to international supply chains. “We expect increased activity from sectors like AI, defense, and fintech, which are shielded from the current tariff turbulence,” he said.
Adding to the growing pipeline, digital banking startup Chime is scheduled to go public next week, while cancer diagnostics firm Caris Life Sciences has also entered the IPO track.
Circle’s rapid rise is not just a win for crypto proponents but a significant signal that the IPO market may be heading into a more robust second half of 2025.