Trading under the ticker "CRCL," shares of the USDC stablecoin issuer opened at $69 after the upsized initial public offering (IPO) priced Wednesday at $31, above its expected range of $27 to $28. The shares finished at $83.23, rising almost as high as $104 in intraday trading.

Circle Internet on Wednesday priced its upsized U.S. initial public offering at $31 apiece, raising $1.05 billion, adding fresh momentum to a growing pipeline of late-stage cryptocurrency firms eyeing public markets.