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Fortune

Marco Quiroz-Gutierrez

Circle files for IPO in the wake of spot Bitcoin ETF approval

Circle Bitcoin IPO ETF Jeremy Allaire Tether United States

(Credit: Michael Nagle—Bloomberg/Getty Images)

Circle, the company behind the second-most-popular stablecoin in the world, will soon sell shares on the public market after it filed confidential IPO paperwork with securities regulators on Thursday.

In a statement, the company, led by CEO and longtime crypto industry veteran Jeremy Allaire, said that the number of shares to be offered and the price range have not been determined. The Securities and Exchange Commission still needs to review and approve the company’s filing before the IPO takes place.

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