A Closer Look at the Top IPOs of 2025: CRCL, CRWV

Key Takeaways IPO activity has fluctuated big post-pandemic but has bounced back recently. Renewed IPO interest reflects a meaningful shift in risk appetite. CRWV and CRCL reflect two of the top IPOs of 2025, up big since their debuts. IPO activity post-pandemic has fluctuated significantly, primarily driven by economic uncertainty, rising interest rates, and inflation, all of which have impacted investor sentiment.But the tide has shifted positively over the past year, with several notable IPOs hitting t ...