Circle’s NYSE Debut & JPMorgan’s Crypto ETF Collateral: A New Era for Crypto?

<div><p>Today in crypto, stablecoin giant Circle has begun trading on the New York Stock Exchange after the firm boosted the size of its initial public offering several times ahead of the listing in response to massive investor demand, and JPMorgan moved to accept crypto exchange-traded funds (ETFs) as loan collateral.</p><h2>USDC issuer Circle debuts public trading on New York Stock Exchange</h2><p>Circle, the issuer of the second-largest stablecoin by market capitalization, USDC, has begun trading on the New York Stock Exchange (NYSE).</p><p>Circle CEO Jeremy Allaire took to X on June 5 to announce the company’s public debut of CRCL shares on the NYSE.</p><p>The company’s public listing comes 12 years after Allaire co-founded Circle with Sean Neville with a mission to remake the global economic system by “re-imagining and re-building it from the ground up natively on the internet,” the CEO said.</p><figure><img alt="NYSE, Circle, Shares, Stablecoin, Companies. Source: NYSE" src="https://ipowercrypto.com/wp-content/uploads/2025/06/0197405a-5066-788c-b9d7-afbe9b432bb0.png" /><figcaption style="display:none;">Source: NYSE</figcaption></figure><p>“Our transformation into being a public company is a significant and powerful milestone — the world is ready to start upgrading and moving to the internet financial system,” Allaire noted.</p><p>Circle’s public launch came shortly after the company reported another upsizing of its initial public offering (IPO) to $1.05 billion, selling 34 million shares at $31 each. The IPO originally sought to offer 24 million shares priced between $24 and $26.</p><p>Allaire’s announcement on X has drawn attention from major figures in the crypto community, including Strategy co-founder Michael Saylor and Coinbase chief legal officer Paul Grewal, who were among the first to congratulate Circle with the NYSE listing.</p><p>“Congratulations, Jeremy — to you and the entire CRCL team,” Saylor wrote.</p><h2>Stablecoin issuer Circle boosts IPO to $1.05 billion</h2><p>Circle Internet Group, Inc., the issuer of crypto stablecoin USDC (USDC), again boosted its initial public offering to $1.05 billion on June 4, pricing its shares above its previous marketed range.</p><p>It will now offer 34 million shares for $31 each when it goes public on the New York Stock Exchange on June 5 — upsizing its public debut from its prior offer of 32 million shares priced between $27 to $28 a pop, which Circle had already boosted from its initial 24 million share offering priced between $24 and $26.</p><p>The latest IPO pricing gives Circle a valuation of $6.9 billion based on the more than 220 million outstanding shares it reported in an earlier regulatory filing.</p><p>It’s Circle’s third go at going public, after pausing its debut for early April after President Donald Trump’s tariff announcement tanked global markets. It also tried an IPO in 2021 through being acquired by an Irish holding company, but the deal never went through.</p><h2>JPMorgan to accept crypto ETFs as collateral for loans — Report</h2><p>JPMorgan, the largest bank in the United States by assets, plans to offer trading and wealth-management clients the option of using crypto-linked assets as collateral for loans, according to a June 4 report from Bloomberg.</p><p>The bank is set to allow financing against crypto exchange-traded funds (ETFs) in some weeks. JPMorgan will begin with BlackRock’s iShares Bitcoin Trust, which, according to Sosovalue.com, is the largest US spot Bitcoin (BTC) ETF with $70.1 billion in net assets.</p><p>The bank will also consider clients’ crypto holdings when assessing net worth, treating digital assets similarly to traditional ones when determining how much a client can borrow against assets.</p><p>JPMorgan is among US banks betting on crypto initiatives for some of its clients. In 2020, it launched JPM Coin, a dollar-pegged stablecoin and in 2024, the bank reported holding shares of different spot Bitcoin ETFs.</p></div>