Major stocks tank against Circle's spectacular NYSE debut originally appeared on TheStreet.

The stocks of most major crypto companies tanked on June 5 as the stablecoin issuer Circle Internet Group (NYSE: CRCL) made an astonishing public debut on the New York Stock Exchange (NYSE).

While the CRCL stock opened at $69 — more than 124% higher than the IPO price of $31, other well-established crypto stocks took a hit today.

Bitcoin proponent Michael Saylor's Strategy (Nasdaq: MSTR), the leading Bitcoin treasury company, was trading at $373.62 at press time, down 1.18%.

Coinbase (Nasdaq: COIN), the largest crypto exchange in the U.S., was trading at $249.66, down 2.48%. The company recently made it to the much-coveted spot on the S&P 500 in May.

Prominent Bitcoin miner MARA Holdings (MARA), earlier known as Marathon Digital Holdings, was exchanging hands at $15.17, down 3.10%.

Another leading Bitcoin miner, Hut 8 Group (HUT), was trading at $16.72, down 1.7%.

Riot Platforms (Nasdaq: RIOT) is another miner that reflected a downtick and was trading at $9.19, down 3.37%.

The Bitcoin miner CleanSpark (Nasdaq: CLSK) similarly witnessed a dip of 3.93% and was trading at $9.16.

HIVE Digital (Nasdaq: HIVE), another leading miner, also slipped 3.37% to $1.87.

The miner Bitdeer (Nasdaq: BTDR) was no exception either which slipped 3.62% to $12.77.

The crypto and stock trading exchange, Robinhood (Nasdaq: HOOD), was the only major crypto stock that registered an uptick today and was trading at $73.44, up 1.66%. The Bank of America analysts recently dubbed Robinhood a “prime candidate” for the upcoming S&P 500 rebalancing and could follow Coinbase's example.

The CRCL stock was trading at $87.14 at press time, up 181%.

The crypto market cap also dipped 1.92% over the last 24 hours to $3.25 trillion. As per Kraken, Bitcoin was exchanging hands at $103,242.20 at press time, down 1.7% a day.

Major stocks tank against Circle's spectacular NYSE debut first appeared on TheStreet on Jun 5, 2025

This story was originally reported by TheStreet on Jun 5, 2025, where it first appeared.