Circle, the company behind the U.S. dollar-pegged stablecoin USDC, has priced its long-anticipated initial public offering at $31 per share, above its expected range of $24 to $26. 

JPMorgan Chase is set to allow its wealth and trading clients to use cryptocurrency-linked ETFs as collateral for loans, starting with BlackRock’s iShares Bitcoin Trust, according to people familiar with the plans.

The Ethereum Foundation (EF) is planning on reforming how it manages its treasury as it prepares for what it calls a “pivotal” stretch for the Ethereum ecosystem in 2025 and 2026. 

Top stories in the Crypto Roundup today:

• Circle Prices IPO at $31, Valuing USDC Issuer at $6.9B in Market Debut
• JPMorgan to Accept Crypto ETF Holdings as Loan Collateral
• Ethereum Foundation Plans Strategic Treasury Overhaul 

Circle Prices IPO at $31, Valuing USDC Issuer at $6.9B in Market Debut

Circle, the company behind the U.S. dollar-pegged stablecoin USDC, has priced its long-anticipated initial public offering at $31 per share, above its expected range of $24 to $26. 

The move gives the company a $6.9 billion valuation and brings one of crypto’s largest players to the New York Stock Exchange under the ticker “CRCL.”

The offering raised about $1.1 billion through the sale of 34 million shares, a bump from the initially planned 24 million. Nearly 10 million of those shares came directly from Circle, with the rest offered by early backers. Trading begins Thursday.

This IPO marks a long-awaited arrival to public markets for Circle, which previously failed to list via a SPAC in 2021. 

JPMorgan to Accept Crypto ETF Holdings as Loan Collateral

JPMorgan Chase is set to allow its wealth and trading clients to use cryptocurrency-linked ETFs as collateral for loans, starting with BlackRock’s iShares Bitcoin Trust, according to people familiar with the plans.

Until now, using crypto ETFs as collateral was only available to select clients on a case-by-case basis. The change will apply globally, affecting clients across wealth tiers, from retail investors to high-net-worth individuals.

In addition to offering loans backed by crypto ETFs, JPMorgan will also begin factoring crypto holdings into clients’ overall net worth and liquidity, alongside traditional assets like real estate, cars and art.

Ethereum Foundation Plans Strategic Treasury Overhaul

The Ethereum Foundation (EF) is planning on reforming how it manages its treasury as it prepares for what it calls a “pivotal” stretch for the Ethereum ecosystem in 2025 and 2026. 

The move marks a shift toward more transparent and proactive financial planning from the nonprofit stewarding the world’s largest programmable blockchain.

In a blog post, the EF said it will align short-term spending with its long-term mission of supporting Ethereum as a platform for decentralized applications. 

That includes stepping in more aggressively during market downturns or when crucial technical work is needed. “The next year and a half,” the post stated, “will likely be such a period.”

As of last fall, EF held nearly $1 billion in assets, the majority in ETH. But facing criticism over perceived inertia and amid mounting competition from rival chains like Solana, the foundation is revisiting its role. 

Its strategies may include solo staking, lending wrapped ETH (wETH), borrowing stablecoins, and allocating capital to tokenized real-world assets.

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