🪙 Crypto Today: Circle Hits NYSE, JPMorgan Embraces ETF Loans, and Stablecoins Boom
🚀 Circle Goes Public with $1.05B IPO
Circle — the company behind USD Coin (USDC), the second-largest stablecoin — officially debuted on the New York Stock Exchange today, trading under the ticker CRCL.
After multiple IPO delays, Circle priced 34 million shares at $31 each, pushing its valuation to $6.9 billion. Initial plans had targeted just 24 million shares at $24–$26, but strong demand led to multiple upsizes.
CEO Jeremy Allaire called the IPO a step forward in building a more internet-native financial system. Industry leaders like Michael Saylor and Coinbase’s Paul Grewal praised the launch.
📊 IPO Highlights:
Shares offered: 34 million
IPO value: $1.05B
Final valuation: $6.9B
Ticker: CRCL
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🏦 JPMorgan to Accept Crypto ETFs as Collateral
In a major move, JPMorgan will soon allow clients to borrow against crypto ETFs — starting with BlackRock’s iShares Bitcoin Trust (IBIT), now the largest U.S. spot BTC ETF with $70.1B in assets.
This development signals increasing trust in digital assets within traditional finance. It may also allow investors to count crypto ETFs toward their net worth for loan eligibility.
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📈 Market Pulse: Stablecoins on the Rise
With Circle’s public debut, the spotlight is back on stablecoins.
Ethereum continues to dominate as a stablecoin and DeFi hub, recording $480B in stablecoin volume in May.
Bitcoin remains near $104,800, though analysts warn of short-term risks tied to global tariff uncertainty.