Stablecoin issuer Circle Internet Group has once again increased the size of its upcoming initial public offering (IPO), now aiming to raise $1.05 billion by selling 34 million shares at $31 each. This updated pricing, according to a Bloomberg report, comes in above its previously marketed range and values the USDC issuer at $6.9 billion based on over 220 million outstanding shares noted in a June 2 SEC filing.
Underwriters have also been granted a 30-day option to purchase an additional 5.1 million shares, underscoring investor interest and Circle’s confidence in the offering. The company’s latest IPO push comes amid growing momentum for crypto-related public listings in 2025.
Third Time’s the Charm for Circle
This marks Circle’s third IPO attempt. The company initially filed for a public debut on April 1, but global market volatility—sparked by former President Donald Trump’s renewed tariff threats—caused the firm to delay the launch. A previous 2021 effort, which involved a merger with an Irish holding company, also failed to materialize.
Despite these setbacks, Circle has shown determination. The offering size and price have both seen steady increases—from an original 24 million shares at $24–$26 to 32 million at $27–$28, and now 34 million at $31. Earlier projections pegged net proceeds at $319 million, earmarked for taxes, product development, geographic expansion, and potential acquisitions.
Also Read: Circle Files for IPO on NYSE Under Ticker “CRCL,” Rejects Acquisition Rumors
BlackRock Backing and a Crypto IPO Wave
In a notable show of institutional support, asset management giant BlackRock is reportedly planning to acquire at least 10% of Circle’s shares when it lists on the New York Stock Exchange on June 5. While the company does not plan to offer dividends, it intends to reinvest profits into growth initiatives.
Circle’s IPO arrives at a pivotal moment, as crypto firms like eToro, BitGo, and Kraken also eye public markets this year. As digital asset companies seek to build legitimacy and attract mainstream capital, Circle’s upsized IPO could set the tone for a new wave of blockchain-driven finance on Wall Street.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
