From IPOs to Stablecoins, June Was an Institutional Power Move for Crypto
Key Takeaways
- June proved to be a powerhouse month for the crypto world.
- The month saw record Bitcoin inflows, a breaking Circle IPO, and new stablecoin launches.
- Institutional rush was the most dominant factor in this month.
June has been a massive success for the crypto industry. It was a month that saw multiple IPO announcements, fundraising rounds, key stablecoin legislation, and more.
The article details all key events of the crypto space dominated by institutional investors amid growing crypto adoption.
Record Bitcoin ETF Inflows
After weeks of outflows in May and the first week of June, Bitcoin ETFs experienced a strong recovery in the second week of June. A similar trend was also observed with Ethereum ETFs, though not as strongly.
Bitcoin ETFs
Bitcoin ETFs saw $1.37 billion in net inflows between June 8 and June 13, marking the key rebound in BTC and investors’ trading.
The rebound saw Bitcoin ETFs record a notable eight-day inflow streak totaling $2.4 billion, starting on June 10 and ending on June 18
BlackRock’s IBIT consistently led inflows, with cumulative net inflows since January 2024 reaching $46.9 billion and assets under management (AUM) at $125 billion across U.S. Bitcoin ETFs.
Ethereum ETFs
Ethereum ETFs had a less eventful June, recording $528.2 million in net inflows in the second week of the month. This was part of a 19-day inflow streak that accumulated $1.4 billion by mid-June.
BlackRock’s ETHA was the top performer, with $4.11 billion in cumulative net inflows and $2.29 billion in net assets.
Institutions Continue To Hoard BTC
As Bitcoin’s price neared its new all-time high in June, public companies continued their BTC doctrine by accumulating more BTC from the market.
According to data, public companies bought 18,234.8 BTC in June, with Metaplanet and MicroStrategy leading the charts.
MicroStrategy (Strategy)
MicroStrategy (Strategy), the pioneer of the Bitcoin treasury strategy among public companies, acquired another 10,345 BTC in June and has spent a total of $1.096 billion.
Metaplanet
Metaplanet, a Japanese Bitcoin treasury company, acquired 4,545 Bitcoin (BTC) through four purchases in June. The firm bought its BTC at an average price of 106,798, spending $485 million.
The accelerated buying helped the firm reach its 10,000 BTC target months earlier than intended.
ProCap BTC LLC
Anthony Pompliano’s ProCap BTC LLC also purchased 3,724 BTC for $387 million at an average price of $103,785.
Others
Apart from these notable multi-million dollar purchases, many smaller companies also bought hundreds of BTC, adding to their treasury.
The Fundraising Rush
June also proved to be a month of new crypto unicorns as multiple firms announced funding rounds or plans to raise funds by selling their tokens, eyeing a multi-billion-dollar valuation.
Two betting and prediction market platforms announced successful funding rounds, raising hundreds of millions of dollars.
Polymarket
Polymarket, a popular decentralized prediction platform that allows users to place bets using cryptocurrency, closed a $200 million funding round at a valuation of $1 billion.
Kalshi
Kalshi, another prominent betting platform regulated in the U.S., also raised $185 million in a Series C funding round, giving it a valuation of $2 billion.
Pump.fun
Pump.fun, the Solana-based memecoin launchpad, also revealed plans to sell $1 billion in its native token at $4 billion valuation.
New Crypto Treasury SPAC
Apart from crypto platforms, a former Blackstone executive and Tether co-founder are raising $1 billion via SPAC M3-Brigade Acquisition V Corp. to launch a listed crypto reserve vehicle holding assets such as Bitcoin, Ether, and Solana. The fundraising is ongoing, and terms remain subject to change.
Crypto IPOs
June also saw one of the most successful crypto initial public offerings in the form of stablecoin issuer Circle.
Circle
Circle went public on June 5, 2025, with a pre-IPO price of $31 on the New York Stock Exchange.
The IPO involved 34 million shares priced at $31 each, opening at $69—more than double the IPO price and above the expected range of $24–$26. Within two weeks, the share price jumped 800% to trade over $270.
The price surge and high demand for the crypto-focused stock helped Circle’s market cap overtake its stablecoin USDC market cap of over $60 billion.
The strong demand for crypto-focused stocks, especially stablecoins, can be understood from the fact that Circle’s IPO was oversubscribed by over twenty-five times.
Gemini
The Winklevoss twins operated Gemini exchange reportedly confidentially filed for an IPO on June 6, targeting the second half of 2025 or early 2026 listing.
The Gemini exchange is valued at $7.1 billion based on its last funding round…
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