Circle IPO Countdown: Just Around the Bend

Explore ways to invest in the Circle IPO. The IPO date is expected in late April or early May 2025. Circle filed for an IPO on Tuesday April 1st, 2025. The Circle stock symbol will be “CRCL” and will trade on the NYSE. 

Invest in pre-IPO startups like OpenAI, Anduril, Databricks, and Anthropic via the Fundrise Innovation Fund*. Non-accredited U.S.-based investors 18+ are eligible to invest for a $10 minimum.

Participate in select upcoming IPOs via TradeStation. A $500 account minimum is required for IPO access. 

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Notable Circle News

04/01/2025: Circle Releases S-1 Filing to the Public
03/31/2025: Circle hires banks for long-awaited IPO, April 2025 filing
01/11/2024: Circle confidentially files for US IPO
11/07/2023: Stablecoin Issuer Circle Internet Considering 2024 IPO
Older news…

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About Circle

Circle Internet Group is a Boston-based global financial technology startup best known as the curator of the USDC cryptocurrency stablecoin. 

Its mission is:

To promote economic growth, reduce poverty, and improve financial stability by transforming the way money moves. Together, we can create a world that is accessible, efficient, and inclusive.

Like most other cryptocurrencies and exchanges, Circle aims to encourage the adoption of its coin (as opposed to the hundreds of others). It makes money by earning interest on the fiat currencies it converts to the stablecoin and charges small fees. 

Non-crypto folks may struggle to understand why such coins are necessary when fiat currencies are sufficient for their daily lives.

The reason lies in the complicated legacy financial networks that facilitate international transactions. Moving money over international borders is traditionally slow and expensive. Circle aims to streamline the process, making the transaction instant and nearly free. 

Another way to think about it — Circle’s stablecoin is not a speculative investment. It’s a utility to transform digital international financial transactions that could used by companies such as Revolut or other global financial services firms. Ripple is also launching a similar stablecoin. 

Circle’s APIs enable developers and various financial institutions to build applications that bridge traditional banking and internet-native money transactions. 

Questions have been raised about how Circle handles its reserve investments. In response, the company has increased transparency to give users the confidence to redeem the coin for a 1:1 ratio for U.S. Dollars or Euros.

IPO Terms

• IPO Date: TBD (Late April or May)
• Stock Symbol: “CRCL”
• Exchange: NYSE
• Common Stock Offered: TBD
• IPO Valuation: TBD
• Raise: TBD
• Lead Underwriters: JPMorgan, Citigroup
• IPO Roadshow: TBD
• IPO Price: TBD
• Opening Trade: TBD
• Opening Trade Time: TBD

Circle S-1 Filing

Here is the initial S-1 filing released to the public on 04/01/2025:

Find the most recent SEC filings on the official website. 

Ownership

Circle is a venture-backed startup, counting several venture capital firms as investors. The founders and employees make up the balance of equity owners. 

The company has raised about $1.2 billion in venture capital funding since its founding. The latest round was a Series F completed in April 2022, raising $400 million.

Notable venture capital investors include Coinbase, BlackRock, Goldman Sachs, Fidelity, Marshall Wace, Fin Capital, Accel, Baidu, FTX, General Catalyst, Oak Investment, Pantera Capital, and the Society for Worldwide Interbank Financial Telecommunication (SWIFT).

Funding Rounds

WordPress Data Table Plugin

Valuation

The latest confirmed Circle valuation is $8.0 billion based on the Series F funding round completed in April 2022. 

However, pre-IPO platform data provided by Hiive indicates Circle equity changed hands at a 40% discount to that valuation in early 2024. 

IPO Potential

The Circle IPO date will likely happen in late April or early May. A specific date has yet to be determined. 

The company filed for an IPO on Tuesday April 1st. Just one day earlier, a Fortune report indicated Circle has hired Citigroup and JPMorgan to run the deal, and plans to release its S-1 in late April 2025. Yet, here we are. 

Circle filed confidentially for an IPO, as reported by Reuters on January 11th, 2024. But we heard little after.  

With the transfer of U.S. leadership in early 2025, crypto fans believe reduced regulations are on the way, calling for a fresh round of crypto IPOs. 

Kraken and Gemini have also indicated they are ready to file in 2025. 

Circle pursued a SPAC merger in 2021, but the deal fell through due to several internal and external factors, including the sharp decrease of many cryptocurrencies. 

We’ll get clues about a potential Circle IPO date if the company hires an underwriter, files an S-1 (confidentially, or public), or if reporting discloses a Circle IPO date range. 

How to Invest in Circle Stock

Most individuals are not eligible to own Circle stock via pre-IPO investing platforms because of the SEC accreditation requirement. 

Furthermore, if and when the Circle IPO date arrives, it will still be difficult for most investors to acquire IPO shares due to high demand. 

Therefore, the most likely way investors can own Circle stock is to wait for the IPO and buy shares after it goes public.

But savvy pre-IPO investors may find other opportunities to own the company before the IPO. 

Here are some potential options to own Circle stock before, during, and after the IPO.

1. Access Circle Stock pre-IPO

Pre-IPO investment platforms may offer Circle stock for early purchase as employees or early investors seek to sell some of their shares before the Circle IPO.

Accredited investors may access shares, provided they are registered on the platform and receive notifications about their availability.

Monitor pre-IPO investing platforms such as Forge Global, EquityZen, Linqto, and Hiive for availability. 

If an opportunity becomes available, expect to invest a minimum of $2,500 to $50,000. It’s free to sign up for data and deal alerts. 

Pre-IPO investment platform memberships are free, but deal-specific minimum investment amounts may apply and vary.

Non-accredited investors can invest in pre-IPO companies via venture capital funds targeted at retail investors. 

The Fundrise Innovation Fund (review) is the most promising for patient, long-term investors.

Circle is not a current holding in the Fund. But the company has indicated that financial technology (FinTech) companies will be a foundational target sector.

Please note: This is a testimonial in partnership with Fundrise. We earn a commission from partner links on AccessIPOs.com. All opinions are my own.

2. Participated in the Circle IPO through a broker

When a company goes public, investors can buy the stock during the IPO at the IPO price. 

Before, only Wall Street’s top customers could invest in IPOs. But now, retail investors can access IPOs through participating discount brokers. 

Some online brokers (like the ones listed below) allow investors to invest in IPOs for free, even if they have limited funds in their accounts.

• TradeStation 
• Robinhood 

Brokers negotiate exclusive access to IPO shares. The chances of getting access to specific high-demand IPOs increase by the number of brokerage accounts you have. 

TradeStation has a more established track record of accessing more than 360 IPOs and secondary offerings via its partnership with ClickIPO. 

Robinhood has the advantage of Silicon Valley networks and a history of getting allocations for high-profile IPOs.

Check out this list of best brokers for IPO investing to learn more about IPO access for retail investors.

3. Buy the stock after the Circle IPO

Waiting for the IPO has advantages, such as access to more established financials after the first quarter of trading. Pre-IPO investing has limited financials.

High-demand companies may have exaggerated valuations. Investors can benefit by attempting to sell near the peak but may suffer when prices revert to fair valuations.

IPOs often start with high valuations, but stock prices may fall after the first and second-quarter earnings reports expose significant numbers and trends.

For example, in 2021, Rivian and Robinhood were high-flying IPO stocks but fell more than 80% below their peak stock prices just six months after their respective IPOs.

Stock price declines can be excellent entry points for recent IPO stock. Avoid buying overvalued shares immediately after the IPO due to lockup expirations and earnings disappointments.

However, the most disruptive companies may perform better over a decade, so patience is key.

4. Invest Indirectly via Coinbase, BlackRock, or Goldman Sachs Stock

Coinbase announced the purchase of an undisclosed equity amount in Circle stock on August 21st, 2023. Investors can buy Coinbase stock to indirectly own Circle stock today. 

Both BlackRock (BLK) and Goldman Sachs (GS) are other publicly traded companies with stakes in Circle stock. By owning either stock, you’ll have indirect exposure to Circle equity, albeit a minuscule amount.

Frequently Asked Questions (FAQs)

Is Circle Publicly Traded?

Not yet. Circle is still a private company, but filed for an IPO in April 2025. The IPO is just around the bend. 

What is the Circle Stock Price?

A public Circle stock price does not exist. It’s a private company. During the Series F funding round in April 2022, shares priced at $42. 

Data from secondary marketplaces indicate shares are worth around $40 per share as of April 2025.  

What is the Circle Stock Symbol?

The Circle stock symbol is “CRCL”.

Circle News Archive

08/21/2023: Coinbase buys equity stake in Circle
07/09/2022: The Financial Bubble Era Comes Full Circle
04/12/2022: Circle Announces $400M Funding Round
12/05/2022: Why Circle’s $9 Billion Plan To Go Public Was Dead On Arrival
07/08/2021: Circle to go public in SPAC deal
05/28/2021: Circle Completes $440 Million Financing
06/23/2016: Circle takes $60M to grow its social payments biz

Additional Resources

• 11 Fintech startups in the IPO Pipeline

Conclusion

Investors may be enthusiastic when they discover companies capitalizing on macroeconomic trends like cryptocurrency platforms. 

But buying stock early on can be challenging for retail investors, despite wanting to own the company.

Pre-IPO platforms provide more investor opportunities. But venture capital investment is still primarily reserved for the ultra-wealthy, necessitating significant wealth to invest in seed and early funding rounds.

When pursuing IPO shares and early equity in Circle stock, have reasonable expectations.

Invest in pre-IPO and IPO companies with caution. Good luck if the Circle IPO is on your watch list.