Analysis: Crypto IPOs underperformed S&P 500 last year

The overall market for initial public offerings last year saw its returns fall below the S&P 500, dragged down by the poor performance of newly listed cryptocurrency-related companies, according to Cointelegraph. The weighted average return for new listings was 13.9%, underperforming the S&P 500's 16% return over the same period. This came as major crypto firms went public amid growing Wall Street interest since the start of President Donald Trump's administration, but their results failed to meet expectations. For example, USDC issuer Circle saw its stock surge 170% on its first day of trading, but its closing price on Dec. 31 fell below its day-one close after Bitcoin retreated from its October high. Crypto exchange Gemini, which went public in September, was cited as one of the worst crypto IPOs of the year; its stock price fell from a high of over $32.50 to $9.92 by Dec. 31. Crypto exchange Bullish, which listed in August, also showed a sluggish performance.