Circle raised $1.1B in its IPO — and on the very first trading day shares quickly surged to $83

🏦 Circle raised $1.1B in its IPO

Last week, Circle — the issuer of one of the world’s major stablecoins, USDC — successfully went public on the New York Stock Exchange.

According to Bloomberg sources, demand for shares exceeded supply by more than 25x by the June 3 subscription deadline.

📈 Circle and its shareholders sold 34M shares at $31 each. On the first day of trading, the stock price climbed to $83 and by the end of the week reached $123.

Circle’s market cap after the IPO stood at $6.9B

Analysts call this IPO the most significant since Coinbase’s listing in 2021 and see it as the beginning of a new wave of institutional investment in the crypto sector.

💼 The Regolith portfolio includes leading crypto players such as Kraken and MetaMask (Consensys), both actively shaping the future of the financial system. We’ll be closely following developments and keep you updated.