@TaikiMaeda2 stated in a post that on June 5th, stablecoin USDC issuer Circle will be listed on the New York Stock Exchange under the stock code CRCL. This is the most anticipated IPO since Coinbase (COIN) in 2021. In this IPO, Circle plans to raise $624 million, with a target valuation of $6.7 billion, and the latest valuation adjustment to $7.2 billion. Bloomberg reported that this financing round has been oversubscribed.

Cathie Wood's ARK Fund will subscribe for $150 million, and BlackRock CEO Larry Fink will invest another $60 million, totaling approximately 35% of this financing round. Wood and Fink can be seen as KOLs in the traditional financial industry, and they are likely to promote the stablecoin narrative between institutions and retail investors through media exposure. Circle's stock is also one of the few ways to bet on the growth of stablecoins and blockchain technology. Insiders in a regular IPO cannot sell their shares within the first 180 days, so if this subscription is indeed oversubscribed, CRCL may see outstanding performance after listing. Cryptocurrency users can see it as a token with "low circulation + high fully valued" online, and endorsed by traditional financial big names (Wood, Fink).