Circle Stock Hits New Peak, Up 347% Since IPO as Institutional Interest in CRCL Explodes
The post Circle Stock Hits New Peak, Up 347% Since IPO as Institutional Interest in CRCL Explodes appeared on BitcoinEthereumNews.com. In brief Circle surged to $138.57 on its third trading day, up 347% from its $31 IPO price. Major investors including SBI Holdings and ARK Invest bought significant stakes. Multiple ETFs have been filed to track Circle, though rate cuts could hurt the company’s interest-based revenue model. USDC issuer Circle surged on its third trading day, climbing to a record intraday high of $138.57 Monday morning amid a wave of continued institutional and retail enthusiasm. The stock, which debuted on Thursday after pricing its IPO at $31 per share, has now more than quadrupled in value—posting a roughly 347% gain from its offering price to its Monday peak. CRCL has cooled to $116.20 as of this writing, still up 8% on the day. Investors have moved nearly 37 million CRCL shares already Monday, meaning that the company could top the 60.7 million shares that traded during Friday’s session. Japanese financial services company SBI Holdings confirmed Monday that it invested $50 million into the newly public stablecoin issuer. “Amid strong demand from numerous institutional investors, etc., the SBI Group secured one of the largest allocations of Circle shares,” the company wrote in a press release. And on Circle’s opening day, Cathie Wood’s ARK Invest trimmed its positions in Robinhood, Coinbase, and Block to buy 4.48 million shares of CRCL. As it stands, the company’s flagship ARK Innovation ETF, ARK Next Generation Internet ETF, and the ARK Fintech Innovation ETF now hold a combined 4,431,862 CRCL shares. Assuming ARK got in at the $31 IPO price, the firm could be sitting on an unrealized gain of more than $524 million, or 281%. There are other signs of intense institutional interest. Fund manager ProShares filed on Friday to offer an Ultra CRCL ETF. The fund would be a leveraged play, meaning that its…
The post Circle Stock Hits New Peak, Up 347% Since IPO as Institutional Interest in CRCL Explodes appeared on BitcoinEthereumNews.com.
In brief Circle surged to $138.57 on its third trading day, up 347% from its $31 IPO price. Major investors including SBI Holdings and ARK Invest bought significant stakes. Multiple ETFs have been filed to track Circle, though rate cuts could hurt the company’s interest-based revenue model. USDC issuer Circle surged on its third trading day, climbing to a record intraday high of $138.57 Monday morning amid a wave of continued institutional and retail enthusiasm. The stock, which debuted on Thursday after pricing its IPO at $31 per share, has now more than quadrupled in value—posting a roughly 347% gain from its offering price to its Monday peak. CRCL has cooled to $116.20 as of this writing, still up 8% on the day. Investors have moved nearly 37 million CRCL shares already Monday, meaning that the company could top the 60.7 million shares that traded during Friday’s session. Japanese financial services company SBI Holdings confirmed Monday that it invested $50 million into the newly public stablecoin issuer. “Amid strong demand from numerous institutional investors, etc., the SBI Group secured one of the largest allocations of Circle shares,” the company wrote in a press release. And on Circle’s opening day, Cathie Wood’s ARK Invest trimmed its positions in Robinhood, Coinbase, and Block to buy 4.48 million shares of CRCL. As it stands, the company’s flagship ARK Innovation ETF, ARK Next Generation Internet ETF, and the ARK Fintech Innovation ETF now hold a combined 4,431,862 CRCL shares. Assuming ARK got in at the $31 IPO price, the firm could be sitting on an unrealized gain of more than $524 million, or 281%. There are other signs of intense institutional interest. Fund manager ProShares filed on Friday to offer an Ultra CRCL ETF. The fund would be a leveraged play, meaning that its…
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