Circle’s IPO Countdown: Will Wall Street Finally Embrace Crypto’s Golden Child?
As Circle files its S-1, the $9B question looms: can a stablecoin issuer convince traditional investors to bet big on blockchain’s most boring—yet most profitable—corner?
Market whispers suggest a $20-$30 debut range—peanuts compared to Coinbase’s fireworks, but hey, grown-ups prefer steady yields over memecoin rollercoasters.
Bankers are polishing their pitch decks while crypto OGs smirk: ’TradFi always adopts the tech 5 years late—at 5x the valuation.’
Circle IPO Share Price Details
According to the press release, Circle plans to offer 24 million shares of Class A common stock. Out of these, 9.6 million new shares will be issued by Circle itself, and 14.4 million shares will be sold by current shareholders. Additionally, underwriters have the option to buy 3.6 million more shares within 30 days, bringing the total offering to as many as 27.6 million shares.
The share price is expected to range between $24 and $26, which could help Circle raise up to $624 million if the over-allotment option is fully exercised. However, Circle won’t receive proceeds from the shares sold by existing shareholders—only from the new ones it issues.
What to Expect From Circle IPO?
This offering is supported by major investment banks like J.P. Morgan, Goldman Sachs, and Citigroup. Barclays, Deutsche Bank, and Société Générale are also helping manage it. Other firms such as BNY Capital Markets, Canaccord Genuity, Needham, Oppenheimer, and Santander are working as co-managers. Junior co-managers include AmeriVet Securities, Drexel Hamilton, Mischler Financial Group, and Roberts & Ryan.
The IPO marks Circle’s second attempt to go public after a previous plan via a SPAC deal fell through in 2022 due to SEC delays. The IPO is more than just a money-raising event—it’s a MOVE toward greater transparency and regulatory compliance.
Circle is targeting a valuation of $6.7 billion through this IPO. Major investors such as ARK Invest are said to be considering buying as much as $150 million worth of stock. Circle CEO Jeremy Allaire emphasized the importance of becoming a publicly listed company to demonstrate accountability and trustworthiness, especially in a sector often criticized for lack of regulation.
When will the Circle IPO Go Live?
It’s important to remember that getting ready for an IPO, like Circle’s IPO, takes time. As per the NYSE IPO guide, the majority of businesses, including Circle, prepare for six to twenty-four months before they ever begin coordinating with banks or establishing formal deadlines.
Businesses can enhance their operations, arrange their finances, and prepare for public market scrutiny at this time. The period is normally applied to enhance image, operations, and performance to suit market expectations.
On May 27, Circle submitted its IPO filing. The usual timeline to go public is 6 to 12 months or even 24 months, depending on how long the SEC review takes. Based on this, the Circle IPO could go live between mid-November and early December 2025 or the next year. However, there has been no official confirmation from Circle regarding the exact IPO date.
Circle’s Stance on Ripple Acquisition
Circle reportedly rejected a $4–5 billion acquisition offer from Ripple, choosing instead to pursue an IPO independently. The firm has also expanded internationally, securing regulatory approval in Abu Dhabi and teaming up with Hub71 to test stablecoin use cases under local regulations.
Circle is also advocating for increased transparency by becoming a publicly listed company on the New York Stock Exchange. CEO Jeremy Allaire said that being a public company is a demonstration of Circle’s dedication to accountability and regulatory compliance. As a US-headquartered company, Circle feels that being listed as a public company will help establish investor trust and fit with its long-term plans for growth.
The Circle vs. Tether Saga
Although still smaller than its primary competitor, Tether, which boasts a $152.7 billion market cap, Circle’s USDC is the second-largest stablecoin, with more than $61 billion in circulation. Tether, on the other hand, has no IPO plans.
Tether CEO Paolo Ardoino said that the company “doesn’t need to go public.” Although it’s larger, Tether remains privately held, taking a different approach to how transparent they are in the market relative to Circle.
Also Read: Can Circle IPO Help crypto market Regain Its Lost Confidence?
