Circle Internet Financial has raised the size of its initial public offering (IPO) to $7.2 billion as it gets ready to go public on the New York Stock Exchange later this week under the ticker symbol “CRCL.”
The New York-based company announced on Monday that it will now sell 32 million shares for between $27 and $28 each, up from the 24 million shares it had initially planned to sell for $24 to $26 each. In contrast to the $624 million initially projected, this could raise up to $896 million, indicating strong institutional interest in the market leader for stablecoins.
While current owners would sell 19.2 million shares, potentially netting up to $537.6 million, the enlarged offering includes 12.8 million additional shares from Circle itself, which could add $358.4 million to the company’s financial sheet.
Circle IPO Support from Institutional Giants
Cathie Wood’s ARK Investment Management has expressed interest in buying up to $150 million worth of shares at the IPO price, demonstrating the strong institutional support for the IPO. The largest asset management firm in the world, BlackRock, has also indicated interest in purchasing around 10% of the listed shares, demonstrating the rising trust in stablecoin economics among the mainstream financial industry.
Nonetheless, the most prominent financial banks on Wall Street are spearheading the offering, with J.P. Morgan, Citigroup, and Goldman Sachs acting as the main underwriters. This well-known support shows how traditional financial institutions are beginning to accept bitcoin firms.
USDC Dominance Influences Development
With over $60 billion in circulation as of March 28, the firm is the issuer of USDC, the second-largest stablecoin in the world, accounting for a quarter of the global stablecoin market. With total revenue of $1.7 billion and a net income of $155.7 million in 2024, it has demonstrated excellent financial performance.
Interest received on Treasury bonds supporting USDC Stablecoin reserves, which increased 55.1% to $557.9 million in the first quarter of 2025, is its main source of income. But over the same time period, distribution and transaction costs increased by 68.2%, surpassing sales growth and indicating possible pressure on margins as the business grows.
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