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2025 Crypto IPOs Raise $14.6B as Circle, Bullish, eToro Lead Surge

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A bullish trend emerged in the crypto market in 2025 as 11 crypto IPOs raised $14.6 billion. Circle, Bullish, and eToro led the charge with first-day gains of 168%, 143%, and 32%. Despite strong debuts, volatility and regulatory hurdles remain. Circle’s IPO signaled growing acceptance of stablecoins, setting the stage for further crypto market expansion in 2026.
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