Summary
- Circle was reported to have surged 186% after listing at $31 on the New York Stock Exchange (NYSE).
- Major institutional investors such as BlackRock and ARK Invest participated in the IPO, and subscription demand reportedly exceeded supply by 25 times.
- Industry experts noted that the success of Circle's IPO is expected to have a positive impact on the stablecoin and virtual asset industry as a whole.
According to Tree News on the 5th (local time), Circle, the issuer of the stablecoin USD Coin (USDC), has been listed on the New York Stock Exchange (NYSE). After debuting at $31, it is now trading at about $88, up approximately 186%.
Previously, Bloomberg reported that Circle's initial public offering (IPO) was oversubscribed, making it highly likely that the offering price would exceed expectations.
Major institutional investors such as BlackRock and ARK Invest participated in this IPO, and it was reported that total subscription demand exceeded the supply by 25 times.
Industry observers believe that the success of Circle's IPO will serve as a positive signal for the stablecoin and virtual asset industry as a whole.
JH Kim
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