Circle stock continues eye-popping post-IPO surge as stablecoin momentum builds

Mon, Jun 16, 2025, 11:50 AM 1 min read

Circle Internet Group (CRCL) stock jumped as much as 18% Monday to a new intraday high, continuing the stablecoin issuer’s meteoric rise following its blockbuster IPO earlier this month.

The stock climbed to $165 before trimming gains, building on Friday’s 25% surge, as investor enthusiasm around stablecoins — digital tokens backed by reserve assets like the U.S. dollar — continues to grow.

Since its highly anticipated public markets debut on June 5 at $31 per share, Circle has soared roughly 400%.

Circle's IPO success comes amid the Trump administration's push for a friendly framework for cryptocurrencies, the president's business involvement in the space, and legislation expected to go to a vote in the Senate this week that would regulate stablecoins.

Bernstein analyst Gautam Chhugani wrote in a note Monday that "stablecoins have brought mainstream attention back to the underlying global rail - the blockchain, and its transformative potential over the long decade."

Chhugani expects the legislation, called the Stablecoin GENIUS Act, to be the first bipartisan bill to be passed by the end of this summer.

Circle is an issuer of the stablecoin USDC (USDC-USD), which is backed by the dollar.

The company had $60 billion worth of the token in circulation at the end of the first quarter. Circle is the second-largest stablecoin issuer on the market, trailing only Tether, which has nearly $150 billion in circulation.

The company generates the bulk of its revenue through "reserve income" — profits earned from the cash reserves backing the USDC stablecoins.

Ines Ferre is a Senior Business Reporter for Yahoo Finance. Follow her on X at @ines_ferre.

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