Crypto IPOs are experiencing a significant surge, driven by regulatory clarity and market maturity. On June 5, Circle made a public debut, raising $1.1 billion and achieving a 167% gain on its first trading day. Following this, Gemini filed for a confidential US listing on June 6, and Bullish did the same on June 10. This trend is attributed to improved market sentiment and regulatory frameworks like MiCA in Europe, which have reduced risks for institutional investors. Tracy Jin, COO of MEXC, highlights that the crypto industry has matured, with companies now IPO-ready due to structured governance and scalable revenue models. Jin anticipates that infrastructure and fintech-adjacent companies will dominate this IPO phase, with Asia playing a significant role. She also predicts that crypto-linked financial engineering will pave the way for mainstream adoption.