Item 1 of 2 Chime CEO and Co-Founder Chris Britt and Chime Co-Founder Ryan King attend the company’s IPO at the Nasdaq MarketSite in New York City, U.S., June 12, 2025. REUTERS/Kylie Cooper
[1/2]Chime CEO and Co-Founder Chris Britt and Chime Co-Founder Ryan King attend the company’s IPO at the Nasdaq MarketSite in New York City, U.S., June 12, 2025. REUTERS/Kylie Cooper
June 12 (Reuters) – New listings in the U.S. have bounced back sharply in recent weeks, with some eye-popping debuts stoking hopes of a sustained revival after a dry spell since April.
On Thursday, fintech firm Chime (CHYM.O), opens new tab climbed 59% in its debut, extending a winning streak for the latest U.S. stock market entrants.
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“If Chime trades well in the first few weeks, boardrooms at a dozen other ‘waiting room’ candidates may move from paper-testing S-1s to pressing the ‘file’ button,” said Michael Ashley Schulman, partner and CIO at Running Point Capital Advisors.
The packed IPO calendar for the rest of 2025 includes high-profile names such as Klarna, Gemini and Cerebras.
IPO activity had remained shackled after President Donald Trump’s “Liberation Day” tariff threats in April rattled global markets and hit sentiment.
The following charts highlight key trends in recent months in the IPO market:
STRONG DEBUTS
Several of 2025’s most closely watched IPOs, including Circle (CRCL.N), opens new tab, eToro and CoreWeave (CRWV.O), opens new tab, have soared since their debuts.
“The June IPO market window has clearly been a success with the hugely popular IPO of Circle Financial, and its incredible after-market rise,” said Samuel Kerr, head of equity capital markets at Mergermarket.
The strong listings may boost confidence among investors and late-stage startups preparing to go public, experts have said.
“There’s a clear backlog of well-capitalized, later-stage firms looking to go public and a successful June slate could set the tone for a stronger Q4,” said Kat Liu, vice president at IPOX.
MARKET MOMENTUM
U.S. IPOs had raised $25.36 billion in 2025 as of June 11, according to data from Dealogic. That compares with $18.22 billion and $9.53 billion raised over the same period in 2024 and 2023, respectively.
Crypto exchange Gemini, buy-now-pay-later firm Klarna, AI chipmaker Cerebras and medical supplies company Medline are marquee names that investors are tracking in the latest wave of IPO hopefuls.
Cancer diagnostic firm Caris Life Sciences and insurance tech firm Slide have kicked off roadshows ahead of their expected U.S. market debuts next week.said Alexander Morris, CEO and chief investment officer of F/m Investments.
Finance, technology, oil and gas, and healthcare have dominated the listings this year, data shows.
Top banking executives and exchange heads have said in recent weeks that the IPO market remains open, particularly for companies in sectors insulated from tariff risks.
CRYPTO BOOM?
A boom in crypto listings may also be on the horizon, according to analysts and industry experts, with companies preparing to ride the momentum from strong recent debuts and improving sentiment.
The Trump administration’s push for lighter-touch oversight has been welcomed by digital asset firms, some of which are now accelerating their IPO plans.
Last week, Gemini, run by billionaire twins Tyler and Cameron Winklevoss, confidentially filed for a U.S. IPO. Rival Kraken is also reportedly exploring a potential listing.
IPO STOCKS VS BROADER MARKETS
IPO stocks underperformed the broader market in early 2025 as trade and economic uncertainty curbed investor appetite.
But the Renaissance IPO Index (.FTIPOUSA), opens new tab, which tracks the performance of high-profile U.S. listings, has since staged a comeback, nearly aligning with the S&P 500 (.SPX), opens new tab by June.
