Digital investment company Arca has given up all its Circle shares following the stablecoin company’s Initial Public Offering (IPO) listing on the New York Stock Exchange (NYSE). Arca no Longer Accepts USDC Jeff Dorman, Arca’s Chief Investment Officer, announced the new development on X. Going forward, Arca will no longer accept USDC as it closes all of its accounts with Circle. According to Dorman, the investment firm will inform every dealer it works with of this development. He had posted an unscathed open letter the day before criticising Circle for giving the investment firm a “throwaway” allocation in the recently listed IPO. Dornam highlighted that his firm had written to the stablecoin issuer in April 2025, requesting $10 million in Circle shares. Arca Receives $135,000 Allocation From Circle IPO Upon going public and listing under the ticker symbol CRCL, Arca received only a $135,000 allocation. The investment firm is irked by this, as it has been a long-time supporter of the stablecoin issuer and one of the earliest investors to submit a bid. Dorman made sure to express his displeasure. “We pinged you separately two months ago, indicating our order, and you thanked us for the support,” the Arca executive vented. “If you were going to f[***] us at the end, the least you could have done was tell us two months ago so we didn’t waste our analysts’ and ops teams’ time on a deal that you had no intention of allocating shares to us.” Circle IPO Go Listed on NYSE Circle’s IPO is significant for the broader crypto market, especially as the second-largest stablecoin issuer. It also marks progress in the regulatory landscape of the crypto ecosystem. The company’s stock, trading under the ticker CRCL, was listed on the NYSE on June 5, 2025. This was in addition to announcing its plans to create a seamless value exchange using products like USDC, EURC, and Circle Payments. The stock’s orders went up 25 times more than the available shares. As a result of this high demand, the stablecoin issuer raised its IPO price to $31 per share. Eventually, Circle amassed more than $1 billion from selling some of its shares to the public. The post Arca Sells Off Its Circle Shares Post IPO Listing appeared first on TheCoinrise.com .
