Wall Street’s ETF machine kicked into high gear just hours after Circle Internet Group Inc. went public, riding the frenzied initial public offering of the stablecoin giant as crypto technologies enter mainstream finance.

SINGAPORE – Brad Garlinghouse, CEO of crypto company Ripple Labs, stated at the XRP Ledger Apex, the Ripple (XRP) community conference in Singapore, that he remains bullish on stablecoins – a sentiment he said is reinforced by the recent blockbuster Circle initial public offering (IPO).

Circle, the company behind the $61 billion stablecoin USDC, made a roaring debut on the New York Stock Exchange Thursday, becoming the first stablecoin issuer to go public and making CEO and cofounder Jeremy Allaire a billionaire.

Circle Internet Group (CRCL) said Wednesday that the underwriters of the stablecoin issuer's previously completed IPO have fully exercised their option to buy an additional 5.10M shares from Circle.

Circle joins Coinbase, Mara Holdings and Riot Platforms as one of the few pure-play crypto companies to list in the U.S.

Shares of stablecoin issuer Circle spiked on Wednesday as its USDC token expands natively to another blockchain, World Chain.

Stablecoin company Circle Internet Group is expected to list its stock on the New York Stock Exchange on Thursday in a long-awaited IPO.

Stablecoin issuer Circle Internet's shares more than doubled in their debut on the New York Stock Exchange on Thursday, firing up the IPO market that has struggled to regain momentum.

Circle priced its initial public offering (IPO) on Wednesday at $31 per share, above the expected range of $24 to $26. The company sold around 34 million shares in the offering for a valuation of $1.1 billion. Bloomberg pegs the total amount raised in the IPO at $6.9 billion.

BitMEX Research suggests Circle's post-IPO rise and treasury-backed model could make it a safer, more profitable play than MicroStrategy.

Circle Internet on Wednesday priced its upsized U.S. initial public offering at $31 apiece, raising $1.05 billion, adding fresh momentum to a growing pipeline of late-stage cryptocurrency firms eyeing public markets.