Summary

Circle Internet Group might set its initial public offering (IPO) price above the anticipated $27-$28 range due to high demand from investors. Bloomberg reports that the company has received orders amounting to over 25 times the available shares.

Investor Support

Notable institutions, including BlackRock and Ark Invest, are likely buyers in this offering, aiming for long-term stockholdings.

Market Context

The robust interest highlights a strong desire for exposure to crypto-related companies amidst a changing regulatory landscape. Circle, which issues the USDC stablecoin, plays a significant part in the blockchain payments and finance sectors.

“Pricing for the stablecoin issuer’s public offering is expected during the U.S. evening hours on Wednesday.”

*Translated: “Pricing for the stablecoin issuer’s public offering is expected during the U.S. evening hours on Wednesday.”

The company plans to finalize its pricing post-U.S. market hours on Wednesday.