Circle Soars on NYSE Debut with 168% Surge

Crypto firm Circle, the issuer of the USDC stablecoin, finally went public—and the market response was explosive. On June 5, Circle began trading on the New York Stock Exchange under the ticker CRCL, with shares skyrocketing from $31 to $82, marking a 168% gain on its first day.

And the rally didn’t stop there: in pre-market trading, CRCL rose another 11.6%, reaching $92.5 at the time of writing. Trading volume hit $47 million, and the company’s market capitalization soared past $16.7 billion.

The IPO brought in $1.1 billion in fresh capital—nearly double initial expectations. While the final valuation came in lower than Circle’s failed 2022 SPAC deal ($9 billion), investor enthusiasm was undeterred. That earlier attempt to merge with Concord Acquisition Corp ultimately fell through.

According to SEC filings, General Catalyst (8.9%) and IDG Capital (8.8%) were Circle’s largest external shareholders prior to the IPO. Other major backers include Accel, Breyer Capital, and Oak Investment Partners.

Ark Invest, led by Cathie Wood, made a bold entry—snapping up 4.48 million CRCL shares worth $373.4 million across three of its ETFs. CRCL now holds a significant position in ARKK (4.4% / $251.8M), ARKW (4.4% / $77.2M), and ARKF (4.3% / $44.5M), ranking just behind top assets like Tesla, the Ark Bitcoin ETF, and Shopify.

This successful listing comes three years after Circle’s previous attempt and marks a major milestone for the company. However, not everyone is convinced the momentum will last. In April 2025, Borderless CEO Kevin Lechtinitty warned that going public could expose Circle to new vulnerabilities and weaken its strategic positioning.

For now, though, the numbers tell a different story: Circle is off to a flying start—what remains to be seen is how long the rally can last.