Key Notes

The crypto market has added over $650 billion in 2025, sparking a wave of IPOs.

Gemini, Figure, Bullish, and SOL Strategies are currently in the spotlight.

A crypto-friendly US regulatory environment is driving investor confidence.

The cryptocurrency market has gained over $650 billion in market cap since the year-start, resulting in a wave of crypto IPOs this bull cycle. Exchanges, blockchain companies, and treasury firms are increasingly tapping into public markets and attracting institutional investors.

USDC stablecoin issuer Circle went public earlier in 2025 and raised $1.1 billion. Its shares skyrocketed more than 200% on debut, inspiring other crypto companies to consider public listings.

Last month, Peter Thiel-backed exchange Bullish raised $1.1 billion in an IPO

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