Circle’s Stock Soars in NYSE Debut
Circle (NYSE: CRCL), the issuer of the USD Coin (USDC) stablecoin, made its debut on the New York Stock Exchange (NYSE) this Thursday, June 5, 2025, and its shares skyrocketed. Opening at $31, the stock price quickly jumped to $103.75 as the market opened.
USDC, a major competitor to Tether’s USDT, currently boasts a market value of $61.4 billion, nearly doubling in the past 12 months.
Market expectations are high that stablecoins will gain further relevance, fueled by the current U.S. administration’s pro-crypto stance.
Circle may even benefit compared to Tether due to a perceived “America first” approach. Tether, being an offshore entity, is reportedly considering creating a new cryptocurrency specifically for the U.S. market.
Since Trump won the presidential election, USDC’s market value has grown by 75.1%, while USDT has only grown by 27.7% during the same period.
Circle’s Shares Surge on NYSE Launch
Circle had initially planned to price its shares between $24 and $26 last month but ultimately raised the figure to $31. Rumors suggest the company rejected a $5 billion offer from Ripple during this process.
The significant price surge upon its NYSE debut was a surprise. Starting at $31, the shares jumped to $103.75 immediately after the market opened.
Based on this price, Circle’s current market capitalization is approximately $17 billion, about 27.7% of the market cap of its stablecoin, USDC.
Investors should focus on the company’s revenues to determine a fair price. In April, Circle reported a revenue of $1.68 billion for the year 2024, with $156 million in profits.
Currently, Circle invests a significant portion of the funds backing USDC in short-term U.S. Treasury securities, a safe, liquid investment with good returns.
Therefore, evaluating both the growth of USDC’s market value and the yield on these securities, or the Fed’s interest rate policy, is crucial to understanding the potential performance of Circle’s stock on the NYSE.
“This is an incredible and memorable milestone for this company, for building a new type of infrastructure for the global financial system.”
“Doing this right here, in the heart of it all, is very meaningful to me knowing that we are just at the beginning and that this transition to becoming a global public company. It’s one of the most exciting moments of my life. I am very grateful,” commented Jeremy Allaire, co-founder and CEO of Circle.
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