Trump-Era Policies Ignite Crypto IPO Frenzy on Wall Street

US crypto companies like Circle and Bullish are tapping public markets as surging valuations, friendly regulations, and renewed investor appetite signal a major comeback for the industry.

After years on the sidelines, US bitcoin startups are keen to go public. This is because of the favorable regulations implemented by President Donald Trump's second administration, which have increased the value of cryptocurrencies worldwide to a record $4.2 trillion.

Bullish, a cryptocurrency exchange operator with wealthy backers including Peter Thiel was the most recent to access US public markets on Wednesday, raising more than $1.1 billion. Growing popular usage and wealthy corporate backers are cited by analysts as factors that are changing the fundraising environment in the industry and increasing demand for new cryptocurrency equities.

Circle’s debut on the New York Stock Exchange in June was a big success, with its stock price more than doubling at the start. This valued the company, which issues stablecoins (cryptocurrencies tied to traditional currencies like the dollar), at around $18 billion. According to Matt Kennedy, a senior strategist at Renaissance Capital, Circle’s strong performance has been the biggest positive sign for the crypto industry.

The historic Genius Act, which established a regulatory framework for stablecoins, was passed by the US Senate a few days after that initial public offering (IPO), which fueled a stock rise. Circle's stock ended the last trading session at $153.16, down from $31 per share at its initial public offering. According to figures provided by LSEG, the company's current value is approximately $35 billion. Kennedy stated that a supportive regulator and positive trading combine to create a potent combination.