Circle Boosts IPO to $1.05B as NYSE Debut Nears

- Circle's IPO increases to $1.05 billion - BlackRock eyes significant stake On June 5, 2025, Cointelegraph reported that stablecoin issuer Circle Internet Group, Inc. increased its initial public offering (IPO) to $1.05 billion. The company now plans to offer 34 million shares at $31 each for its New York Stock Exchange (NYSE) debut, and this offering gives Circle a valuation of $6.9 billion. This adjustment represents an increase from Circle's previous plan to offer 32 million shares at prices ranging from $27 to $28 per share. An even earlier plan involved 24 million shares priced between $24 and $26. Furthermore, underwriters have a 30-day option to purchase an additional 5.1 million shares. Major asset investment firm BlackRock reportedly intends to acquire at least a 10% stake in Circle upon its public debut. In addition, ARK Investment Management has expressed interest in purchasing up to $150 million of the offered shares. Circle has earmarked the IPO proceeds for various uses, including covering tax withholding and remittance obligations, which amount to approximately $111 million. The company plans to utilize the remaining funds for investments in new products, business expansion, and potential acquisitions. Circle has stated it does not currently intend to pay dividends; instead, it will retain funds and future earnings for business growth and development. This marks Circle's third attempt to go public, as a previous plan in 2021 involving a special-purpose acquisition company (SPAC) did not materialize. The current IPO aligns with a trend of other crypto companies increasing their offering sizes; for example, eToro boosted its May IPO to $620 million. Additionally, other firms like Kraken and BitGo are reportedly considering public offerings. Joint lead bookrunners J.P. Morgan, Citigroup, and Goldman Sachs & Co. LLC are managing the offering, and Circle expects its shares to trade under the ticker symbol "CRCL." The company also anticipates the offering will close on June 6, 2025, subject to customary closing conditions. On June 4, 2025, Business Wire reported Circle's increased IPO and heavy oversubscription. On June 5, Investing.com also reported on the increased offering, noting that demand exceeds available shares by more than 25 times. According to CoinMarketCap on June 5, at 03:10 UTC, USD Coin (USDC) was trading at $1, with a -0.001% change in 24-hour trading volume.