The U.S. IPO Market: Back in the Spotlight, With a Dash of Drama: Time to ‘Chime’ In? ( $CHYM $CRWV $ETOR )

A Comeback Worth Cheering

After a long stretch that could best be described as a financial siesta, the U.S. IPO market is finally stretching its legs and putting on a show. As of June 11, 2025, U.S. IPOs have raised a robust $25.36 billion—leaving last year’s $18.22 billion and 2023’s $9.53 billion in the dust. The recent debut of fintech darling Chime (CHYM), which soared an eye-popping 59% on its first day (today), has investors and boardrooms alike buzzing with optimism. As Michael Ashley Schulman of Running Point Capital Advisors quipped, if Chime keeps up its momentum, a dozen other “waiting room” hopefuls might just hit the ‘file’ button on their S-1s.

The Tech Parade and Tariff Tango

Tech IPOs are leading this parade, with companies like eToro (ETOR) and CoreWeave (CRWV) putting on dazzling performances. eToro, for instance, jumped nearly 29% on its Nasdaq debut, while CoreWeave’s stock has more than doubled since its IPO in March, thanks to a jaw-dropping 420% revenue surge. This resurgence comes after a brief market wobble in April, triggered by President Trump’s tariff threats, which prompted some companies—think Klarna and StubHub—to tap the brakes on their own IPO dreams.

Yet, the market is nothing if not resilient. The IPO window has swung open again, with a packed calendar featuring names like Klarna, Gemini, Cerebras, and Medline. Even the crypto crowd is getting in on the action, with Gemini confidentially filing for a U.S. IPO and whispers that Kraken might follow suit.

Who’s Next on the Runway?

The pipeline is brimming with late-stage startups, many flush with capital and eager to make their Wall Street debut. Kat Liu of IPOX notes that a successful June could set the stage for a blockbuster fourth quarter, as more companies look to ride the momentum. Renaissance Capital has even declared 2025 a “green light” year for IPOs, with new offerings up a remarkable 63.6% from last year.

Sector Stars and Market Mood

While technology and fintech are stealing the spotlight, healthcare and energy are also making waves. The first major IPO under the new administration was Venture Global, a liquefied natural gas exporter—a nod to shifting energy policies and investor appetite for traditional energy plays. Meanwhile, AI and cryptocurrency remain the market’s darlings, with recent IPOs in these sectors delivering triple-digit gains and fueling investor enthusiasm.

A Word of Caution (and a Wink)

Of course, not everything is smooth sailing. Market volatility, tariff uncertainty, and global economic jitters still cast the occasional cloud over the IPO parade. Some companies remain cautious, keeping their powder dry until the skies clear further. Yet, with interest rates stabilizing and regulatory winds blowing in a more business-friendly direction, the mood is decidedly upbeat.

The Bottom Line

The U.S. IPO market is back in business, blending high-octane tech debuts, crypto curiosity, and a healthy dose of optimism. Investors are watching closely, hoping the recent hot streak continues—and perhaps, secretly, that a little drama keeps things interesting along the way.