Bitcoin Price Rises. This Could Be the Next Big Crypto IPO After Success of Circle Stock. — Barrons.com

By George Glover

Bitcoin was edging higher on Monday. After a strong week for cryptocurrencies as an asset class, more good news could be on the way soon.

The world's largest token was up 0.2% over the past 24 hours, according to data from CoinDesk. It's now trading about 6% below the record high it hit last month.

Circle Internet Group, which issues the USD Coin, a cryptocurrency that's pegged to the dollar, made a stellar stock-market debut last week, surging 168% on Thursday — its first session trading — and then another 29% Friday. Its shares were up another 13% ahead of Monday's opening bell.

Circle's successful initial public offering could be a sign that investors want more exposure to digital assets. Crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss in 2014, said Friday in a statement that it had filed confidential paperwork with the Securities and Exchange Commission for an IPO of its own.

Other tokens were trading mixed on Monday. Ethereum slipped 1%, but Solana and XRP were both up 0.8% over the past 24 hours, per data from the crypto exchange Kraken.

Write to George Glover at george.glover@dowjones.com

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