Circle hits $75 per share in first-day pop on NYSE

After upping its offer multiple times, Circle is finally trading on the NYSE

article-image

Jay Woods for Blockworks

share

Stablecoin issuer Circle started trading on the New York Stock Exchange Thursday at a price of $69 per share, but quickly jumped as high as $75 in initial trading. The company trades under the ticker symbol CRCL. The stock was halted for volatility within minutes of opening. 

“We’ve seen really, really tremendous demand from phenomenal investors that I think see what we see, which is that the internet is entering a new chapter,” Circle CEO Jeremy Allaire said during an interview with CNBC Thursday ahead of the listing. 

“It is the chapter of upgrading the financial system with stablecoin money.” 

This opening trade price is higher than the company’s Wednesday evening initial public offering price of $31, which was above the proposed range. Investors who purchased directly from underwriters are now up roughly 144%. 

Allaire rang the opening bell at the NYSE ahead of trading and is scheduled to ring the closing bell virtually from Circle’s New York headquarters. 

Circle, its founder and its early shareholders raised $1.1 billion from 34 million shares. After the close on Wednesday, the company upped the offering from 32 million shares.

There was overwhelming investor demand for the IPO. The offering was 25 times oversubscribed, according to a report from Bloomberg. 

Read more: Weighing institutional, retail demand for Circle ahead of public debut

“This is how the US becomes the global crypto/blockchain hub and fulfills the administration’s objective,” 10T Holdings CEO Dan Tapiero wrote in a Wednesday LinkedIn post. “The bigger companies in the digital asset world gain added credibility by going through a real-world vetting process.”

Now, all eyes are on how the stock moves in the first few hours of trading. 

VanEck’s Matthew Sigel told Blockworks Tuesday that Circle can be considered a “boring is beautiful trade” for institutions given its profitability, minimal leverage and position within the Web3 ecosystem. But retail investors “may find it harder to latch on” to a company with less volatility and brand recognition than an exchange like Coinbase, he argued. 

Circle’s NYSE listing comes a few weeks after Galaxy Digital and DeFi Technologies made their respective US public debuts on the Nasdaq. 

Tapiero said at Blockworks’ Digital Asset Summit in March that ownership of crypto companies via exchange listings was a “mini step” that leads to more value moving onchain.

“American investors like to own businesses with cash flow, balance sheets, income statements, a proper board — and also legitimacy,” he noted at the time.

This story was updated 6/5: Added additional context throughout.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Research Report Templates.png

Research

Pipe Network is a decentralized content delivery network (dCDN) that replaces the sparse, capital intensive data center footprint of traditional CDNs with a permissionless mesh of independent node operators. By orchestrating under-utilized resources that already exist at the edge, rather than purchasing or leasing thousands of servers, Pipe slashes capital intensity while letting supply expand autonomously in the places where bandwidth is scarcest and most expensive.

article-image

9.6% of crypto industry employees were paid in crypto, and most opted for USDC and USDT

article-image

You don’t own the protocol. You own the incentives.

article-image

Switchboard’s price feeds are now sub-100ms

article-image

Big names are projecting the S&P 500 will post a double-digit decline

article-image

A 29-minute halt in block production briefly froze Base, but DeFi dodged the bullet

article-image

Companies can find new audiences by moving beyond traditional press releases, says Aubrey Strobel