Circle IPO: Final Chapter of a Thesis Proven Right

Jenna Ryan
Jun 18
2 min read

June 18, 2025 — From Conviction to Confirmation

Just 13 days after its historic listing, Circle Internet Financial (NYSE: CRCL) closed at $199.59, marking a +1147% return from our original institutional entry at $16.

This is not merely a success.This is the market repricing an entire asset class.

📊 June 18 Key Metrics:

Closing Price: $199.59
Intraday High: $200.90
Opening Price: $153.22
Daily Volume: 59.84M
Market Cap: $444.2B
2-week Gain from IPO Price ($31): +544%
Gain from Primary Allocation ($16): +1147%

🧠 The Thesis, Delivered

Circle’s valuation isn’t about speculation.It’s the market catching up to what we positioned for early:

✅ USDC as sovereign-grade digital infrastructure
✅ Circle as the on-chain settlement layer for the dollar
✅ Regulatory-first architecture backed by the GENIUS Act
✅ Endorsement from players like BlackRock, ARK, Fidelity
✅ Shift from “crypto” to “compliant programmable finance”

🔍 From Performance to Signal

This wasn’t a short-term win. It was a structural confirmation.

Circle has gone from:

“Interesting fintech” → “Default on-chain clearing platform”
“Another stablecoin issuer” → “The digital dollar’s delivery engine”
“Pre-IPO alpha” → “Post-listing validation”

We didn’t ride the narrative. We structured our entry before the market had one.

🔐 What This Teaches Us

Alpha is never public.It’s built quietly, years ahead of consensus.

While retail watched at $199, we acted at $16.That’s not timing — it’s conviction engineered through structure.

Circle’s rise isn’t the end of our thesis.It’s the beginning of a new pricing model for compliant infrastructure.

🔮 What Comes After $199?

We’re no longer just “early.” We are in position — for the next one.

💡 If you missed Circle, don’t chase.Understand the structure behind it. Then get in line for what’s next.

Apply to access → Our private allocation circle is open to qualified partners.

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