BlackRock, ARK Fuel Circle’s 167% IPO Pop—But Early Backer Cries Foul
Reading Time: < 1 minute
Circle’s NYSE debut became one of 2025’s hottest IPOs, with shares (CRCL) skyrocketing 167% to $82. The stablecoin issuer rode a wave of institutional demand, including BlackRock’s pursuit of a 10% stake and ARK Invest’s $150 million buy-in.
Yet the triumph wasn’t universal. Arca, an early supporter, publicly vented frustration over receiving just a $135K allocation. CIO Jeff Dorman accused Circle of snubbing long-time backers in a since-deleted rant.
The controversy did little to slow momentum: Circle expanded its offering to $1.05 billion, overcoming earlier delays tied to trade war uncertainties.
Follow and like us on
