Circle raises IPO target to $896M amid growing investor interest

Circle, the issuer of the USDC (CRYPTO:USDC) stablecoin, has raised its initial public offering (IPO) target to $896 million, according to a June 2 filing with the U.S. Securities and Exchange Commission (SEC).

The company now plans to offer up to 32 million shares at a price range of $27 to $28 each, up from a previous plan to issue 24 million shares priced between $24 and $26.

This move follows Circle’s late May disclosure of a $6.7 billion target valuation, which included the issuance of 9.6 million Class A common shares.

The updated IPO terms reflect increased investor interest as stablecoin adoption rises and U.S. regulatory conditions improve.

A Circle spokesperson declined to comment, citing the ongoing quiet period required by securities law ahead of SEC approval.

Reports indicate BlackRock is expected to acquire a 10% stake in the offering.

Stablecoin activity has grown substantially, with transaction volumes totaling $94.2 billion from January 2023 through February 2025.

“Overall, stablecoins have established themselves as growing and significant components of the global payment infrastructure,” a recent report stated.

In parallel, U.S. crypto regulation has seen movement with the introduction of the bipartisan CLARITY Act.

The bill proposes splitting digital asset oversight between the SEC and the Commodity Futures Trading Commission (CFTC), while establishing a formal registration process for crypto firms.

SEC Chair Paul Atkins has indicated a shift toward regulatory clarity, including guidance on crypto staking services.

Outgoing CFTC Commissioner Summer Mersinger also said approval for onshore crypto perpetual futures could come soon.