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Cointelegraph by Jesse Coghlan

Bloomberg: US IPOs in 2025 returned 13.9%, trailing S&P 500's 16% amid crypto and AI deals

US IPOs in 2025 posted a 13.9% weighted gain, lagging the S&P 500's 16% as several crypto and AI listings struggled to sustain early momentum. Circle's $1.05 billion June debut surged 170% on day one but later pulled back alongside Bitcoin weakness, while Gemini and Bullish ended the year below early highs. Larger offerings outperformed mid-sized deals, with mega-issues beating $500 million to $1 billion floats.
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