智通财经网·2025-09-25 13:45Group 1 - The core focus is on the strong performance of newly listed companies in the US IPO market, which has significantly outperformed major indices like the S&P 500 and Nasdaq 100, with a weighted average increase of 41% in 2025 [1] - Companies that raised over $1 billion in their IPOs have seen an average surge of 77%, indicating a preference for scale and liquidity among investors [1] - Notable performers include Circle (CRCL.US) with a 324% increase, CoreWeave (CRWV.US) with over 233%, and Bullish (BLSH.US) with an 83% rise since their listings [1] Group 2 - In 2023, companies have raised $32 billion in the US exchanges, marking a strong rebound after market uncertainties caused by tariffs in April [2] - September 2023 was the busiest month for IPOs since 2021, driven by a general market uptrend that encouraged a wave of new issuances [2] Group 3 - Factors contributing to the strong IPO performance include inflows into stock funds, the presence of cornerstone investors, and the initial size and valuation of offerings [6] - The IPO market is expanding beyond just cryptocurrency and AI, with companies from fintech, defense, aerospace, education, and software sectors also going public [6] Group 4 - ETFs focused on IPOs, such as Renaissance IPO ETF and First Trust US Equity Opportunities ETF, have outperformed the S&P 500, with increases of 16% and 37% respectively [7] - Despite the strong performance, the inflows into these ETFs remain below pre-pandemic peaks, indicating a cautious recovery in investor sentiment [7] - The reversal in fund flows for First Trust's FPX in 2025, attracting $70 million after four years of outflows, still falls short of the $145.5 million attracted in the year before the pandemic [7]