From Yahoo Finance: 2025-06-11 09:58:00

Circle’s IPO exploded 300%, sparking interest from Wall Street players. Bernstein sees Ethereum as a critical point for onchain use, especially for stablecoins. Circle’s shares opened at $31, rose to $69, then $132.72. Fundstrat’s analysis suggests shares should only trade at $119 in a bull case next year.

Circle’s IPO has sparked a recalibration on Wall Street. Despite expectations of stablecoin market growth, doubts linger about Circle’s business justifying its IPO surge. Circle CEO Jeremy Allaire hints at potential future services, while Bernstein suggests betting on Ethereum for growth opportunities in the stablecoin market.

In a new note, Bernstein analysts highlight growing institutional interest in Ethereum, with inflows indicating momentum. CoinShares’ report shows Ethereum leading in crypto investment product inflows, surpassing Bitcoin. JPMorgan plans to consider crypto holdings, allowing clients to use Bitcoin ETFs as collateral — a significant shift in asset management perspective.

JPMorgan’s move to incorporate crypto holdings into client assessments marks a major shift in asset management perspective. Previously skeptical, JPMorgan now groups crypto with traditional assets like art and securities. The news, somewhat under the radar, reflects a changing attitude towards cryptocurrency in mainstream finance. 1. The FDA has approved a new drug for Alzheimer’s disease, the first new treatment in nearly 20 years. The drug, Aduhelm, has shown promise in slowing cognitive decline in patients with early-stage Alzheimer’s.

2. In international news, a ceasefire has been declared in the conflict between Israel and Hamas. The agreement comes after 11 days of intense fighting that left hundreds dead, including many civilians. Both sides have agreed to stop all hostilities.

3. The CDC has updated its guidelines for fully vaccinated individuals, stating that masks are no longer necessary in most indoor and outdoor settings. This comes as more than 50% of US adults have received at least one dose of the COVID-19 vaccine.

4. In business news, Amazon has announced plans to acquire MGM Studios for $8.45 billion. The deal will give Amazon access to MGM’s vast library of content, including popular franchises like James Bond and Rocky.

5. The Colonial Pipeline, which supplies nearly half of the East Coast’s fuel, was hit by a cyberattack, causing disruptions in fuel supply and leading to panic buying in several states. The FBI has attributed the attack to a criminal group known as DarkSide.

Read more: Why Circle’s IPO Is Sparking an Explosion on Wall Street