Circle Internet Group Inc., the company behind the USD Coin (USDC) stablecoin, has made a record-setting debut on the New York Stock Exchange (NYSE), eclipsing the initial public offerings (IPOs) of major tech names like Meta, Robinhood, and Airbnb.
Massive First-Day Gains Capture Wall Street’s Attention
Launching at $31 per share under the ticker CRCL, Circle’s stock skyrocketed to an intraday high of $103.75 before closing at $83.23. That’s a 168% increase in a single day. The rally didn’t stop there. On its second trading day, the stock hit $123.51 before settling at $94.50, marking an impressive two-day jump of nearly 300%.
With the sale of 34 million shares, the IPO brought in around $1.1 billion and pushed Circle’s fully diluted valuation to $32.1 billion. These numbers surpass Airbnb’s 112% debut gain in 2020 and Meta’s flat start in 2012.
What’s Driving the Investor Buzz?
Several factors contributed to the IPO’s success:
- Circle posted strong Q1 2025 financials, including $578.6 million in revenue—a 58% year-over-year rise.
- The company earned $64.79 million in net income for the quarter.
- USDC, Circle’s flagship stablecoin, has a circulating supply of $61.5 billion and is widely used across decentralized finance (DeFi) and digital payments.
Moreover, institutional interest played a key role. BlackRock and ARK Invest were among the prominent investors. ARK Invest alone bought 4.48 million shares worth approximately $373.4 million on the first day.
A Turning Point for Crypto and Fintech on Wall Street
Circle’s breakout IPO could pave the way for other cryptocurrency and fintech companies to go public. The market response reflects rising confidence in digital currency infrastructure, especially stablecoins like USDC, which are gaining traction for their reliability in a volatile space.
As regulatory clarity improves and blockchain technology gains mainstream adoption, Circle’s public success might serve as a case study for future crypto-related listings.
