Odaily News Taiki Maeda posted on X that on June 5, Circle, the issuer of the stablecoin USDC, will be listed on the New York Stock Exchange with the stock code CRCL. This is the most watched IPO since Coinbase (COIN) in 2021. Circle plans to raise $624 million in this IPO, with a target valuation of $6.7 billion. The latest valuation has been adjusted to $7.2 billion. Bloomberg said that this financing has been oversubscribed. Cathie Wood's ARK Fund will subscribe for $150 million, and BlackRock CEO Larry Fink will invest another $60 million, which together account for about 35% of this financing. Wood and Fink can be regarded as KOLs in the traditional financial world. They are likely to be exposed through the media and jointly promote the "stablecoin narrative" between institutions and retail investors. Circle stock is also one of the few ways to bet on the growth of stablecoins and blockchain technology. Conventional IPO insiders cannot sell their holdings within the first 180 days. If this subscription is indeed oversubscribed, CRCL may have an outstanding performance after listing. Crypto users can regard it as a "low circulation + high full valuation" token launch, endorsed by traditional financial bigwigs (Wood, Fink).