Circle (CRCL) IPO Ignites Major Shift in Crypto Stocks
Circle Internet Group debuted on the NYSE (ticker CRCL) on June 5, 2025, at $31 per share and closed at $83.23, marking a pop of 168% and triggering a trading halt .
The IPO raised $1.1 billion (34 million shares issued), valuing Circle at approximately $18–21 billion .
The strong debut highlights growing interest in stablecoins and crypto infrastructure .
Impact on other crypto stocks:
Stocks like MicroStrategy (MSTR), Coinbase (COIN), and Marathon Digital (MARA) slid roughly 4–5%, as capital rotated from crypto stocks to Circle's hot IPO .
🔍 What This Means
Investor appetite: Circle's surge reflects renewed optimism in crypto-native businesses, especially stablecoin issuers.
Volatility ripple effect: Profitable IPOs can siphon liquidity from existing crypto-equity plays—classic “crowding out.”
Sector sentiment: The move sets expectations for more strong crypto stock debuts; however, fluctuations in Bitcoin will continue to sway these names.