USDC issuer Circle is about to go public, attracting the attention of TradFi with investments from Wood and Fink.

Circle, the issuer of stablecoin USDC, will be listed on the New York Stock Exchange under the ticker symbol CRCL on June 5, the most talked-about IPO since a trading platform (COIN) in 2021, Golden Finance reported. The IPO Circle plans to raise $624 million with a target valuation of $6.7 billion, with the latest valuation adjusted to $7.2 billion, which Bloomberg says is oversubscribed. Cathie Wood’s ARK fund will subscribe for $150 million, and BlackRock CEO Larry Fink will invest another $60 million, which together account for about 35% of the funding. Wood and Fink can be seen as KOLs in the traditional finance world, and they are likely to work together to drive the stablecoin narrative between institutions and retail investors through media exposure. Circle stock is also one of the few ways to bet on stablecoin growth and blockchain technology. Regular IPO insiders will not be able to sell their holdings in the first 180 days, and if the subscription is indeed oversubscribed, CRCL may see a strong performance after listing. Crypto users can see it as a “low circulation + high full valuation” token listing, and it is backed by traditional financial influencers (Wood, Fink).