Circle’s CRCL Stock Surges 22% in Pre-Market Trading on Institutional Demand
Circle’s CRCL shares soared 22% in pre-market trading, peaking above $130 before settling at $123 at the open. The rally follows the company’s successful NYSE listing, marking one of the most notable fintech IPOs since Coinbase’s 2021 debut.
Institutional interest is driving the momentum. SBI Holdings, a Japanese financial giant, committed $50 million to Circle, split evenly between its parent company and subsidiary SBI Shinsei Bank. The investment underscores a strategic push to expand USDC adoption in Japan.
Market analysts attribute the bullish performance to growing institutional appetite for blockchain-linked public offerings. Circle, best known for the USDC stablecoin, now stands as a bellwether for crypto-native firms entering traditional markets.
