Circle Goes Public on NYSE After $1.05B IPO Boost
Circle, the issuer behind USD Coin (USDC) — the world’s second-largest stablecoin — officially began trading under ticker CRCL on the New York Stock Exchange (NYSE) today, June 5.
The IPO was upsized several times due to strong investor demand, ultimately pricing 34 million shares at $31 each, valuing the company at $6.9 billion.
Originally, Circle targeted 24 million shares at $24–$26. The final price range marked its third attempt to go public after delays in April due to Trump-era tariff fears.
Circle CEO Jeremy Allaire called the listing a milestone for “upgrading the world to an internet-native financial system.”
Industry leaders like Michael Saylor and Coinbase’s Paul Grewal congratulated the team on X.
📈 Key Numbers:
Shares offered: 34 million
IPO value: $1.05 billion
Valuation: $6.9 billion
Ticker: CRCL
JPMorgan to Accept Crypto ETFs as Loan Collateral
JPMorgan, the largest U.S. bank by assets, will reportedly allow clients to borrow against crypto ETFs in the coming weeks, according to Bloomberg (June 4).
The initiative starts with BlackRock’s iShares Bitcoin Trust (IBIT) — currently the largest spot BTC ETF in the U.S. with $70.1B in net assets.
This move signals growing institutional comfort with treating crypto-backed ETFs like traditional securities.
Clients’ digital assets may now count toward net worth calculations for loan eligibility.
🔍 Why It Matters:
This marks a major leap in crypto's mainstream integration with traditional finance, allowing more liquidity options for wealthy investors holding digital assets.
Today’s Crypto Market Pulse
Stablecoins are in focus as Circle debuts on Wall Street, highlighting the rising importance of tokenized dollars in global finance.
Ethereum’s resurgence as a DeFi and stablecoin hub continues, with $480B in stablecoin volume recorded in May.
Bitcoin hovers near $104,800, with analysts citing tariff uncertainty as a key short-term risk.
Key Takeaways for Crypto Investors
Event | Impact |
|---|---|
Circle NYSE Debut | Signals growing trust in stablecoin-backed businesses |
JPMorgan's ETF Loan Plan | Enhances crypto liquidity and wealth management use cases |
Stablecoin Adoption | Fuels Ethereum’s comeback and DeFi evolution |
