加密货币IPO热度高涨，或称为一下波IPO主力军

Core Insights - The signing of the "Genius Act" by President Trump on July 18, 2025, establishes a federal regulatory framework for digital stablecoins in the U.S. [1] - The passage of this act represents a significant breakthrough for the cryptocurrency industry and highlights the U.S. strategy to consolidate dollar hegemony and compete for dominance in digital finance [3] - 2025 is anticipated to be a landmark year for cryptocurrency IPOs, with many crypto companies planning or announcing IPOs, which will have profound implications for the capital markets and the crypto ecosystem [3] Group 1: Stablecoin Developments - Circle, the issuer of USDC, became the first stablecoin company to go public, listing on the New York Stock Exchange on June 5, 2025, marking a significant recognition of stablecoins in traditional capital markets [4] - Circle's IPO saw its stock price rise over 96% from the issue price, reaching $163, reflecting traditional capital's confidence in compliant crypto assets [4] - The successful IPO of Circle serves as a reference model for future stablecoin and crypto infrastructure companies looking to enter the public market [4] Group 2: Custody and Infrastructure - BitGo Holdings, a major digital asset custody provider, submitted a confidential S-1 registration statement to the SEC on July 21, 2025, initiating its IPO process [5] - BitGo's custody assets exceeded $100 billion in the first half of 2025, up from $60 billion at the beginning of the year, indicating strong growth in the custody sector [5] Group 3: Market Trends and Regulatory Environment - The digital asset exchange Bullish submitted its listing application to the SEC, planning to trade under the ticker "BLSH" on the NYSE, marking another significant step for the crypto industry towards integration with traditional finance [8] - The regulatory clarity provided by the "Genius Act" is expected to facilitate the entry of more diverse crypto companies into traditional capital markets, enhancing the integration of the crypto industry with traditional finance [9] - The introduction of stablecoin regulations in the U.S. and Hong Kong has spurred a global interest in stablecoins, leading to a rebound in the prices of cryptocurrencies that had previously experienced declines [10]