Circle will be listed on the New York Stock Exchange under the stock code CRCL, targeting a valuation of $6.7 billion

According to BlockBeats, Circle will go public on June 5 on the New York Stock Exchange under the stock code CRCL. This IPO aims to raise $624 million, with a target valuation of $6.7 billion, and the latest valuation adjusted to $7.2 billion.

Cathie Wood's ARK fund subscribed for $150 million, and BlackRock CEO Larry Fink invested $60 million, together accounting for about 35% of the financing. They may promote the stablecoin narrative through the media.

Circle's stock is one of the ways to bet on the growth of stablecoins and blockchain technology. If the subscription is oversubscribed, CRCL may perform well after going public, and crypto users may see it as a low liquidity high valuation token launch, backed by traditional financial big names.