Circle (CRCL, Financials) soared 168% on its first day of trading Thursday after the stablecoin issuer priced its long-anticipated initial public offering at $31 per share. The stock opened near $69 and closed at $83.

The stablecoin issuer’s IPO arrives as investors brace for more market headwinds and regulatory change while stablecoin demand grows.

In this photo illustration, the Circle Internet Group logo is seen displayed on ... More a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images

Circle (CRCL) jumped 7% on Monday following filings of asset managers T-Rex, ProShares and Bitwise to launch separate exchange-traded funds (ETFs) tracking Circle's CRCL stock, less than a week after it went live on the New York Stock Exchange (NYSE).

Circle Internet Group, an issuer of stablecoins, is expected to debut on the NYSE this week in a highly anticipated IPO and stock listing.

ProShares, Bitwise filed for Circle stock-linked ETFs after the stablecoin issuer made a successful debut on the NYSE.

Circle started trading publicly on the New York Stock Exchange Thursday under the ticker CRCL, pricing its initial public offering at $31 per share.

The shares of the stablecoin giant Circle surged on its first day as a public company. In a post on the social media platform X, the issuer of the second-largest dollar-pegged stablecoin USDC and the euro-pegged Euro Coin (EURC) says its shares can now be traded on the New York Stock Exchange (NYSE).