Sigil Fund Goes All-In on Stablecoins with Circle: A 4x Return in Just One Year!

Sigil Fund is putting its money where its mouth is, betting big on stablecoins and declaring that Circle is the only game in town!

Holy smokes, stablecoins are going mainstream, and Sigil Fund, an early believer in Circle, is shouting it from the rooftops! On Tuesday, June 10, they spilled the beans on their investment in the USDC stablecoin powerhouse. Get this—they've already raked in a mind-blowing 4x return on their $5 billion pre-IPO bet!

"Sigil Core jumped on the Circle bandwagon back in July 2024, way before the IPO hype. On the big day alone, our stake shot up the fund's NAV by a whopping +9%—and now, the total return is sitting pretty at ~4x in just one year!" Sigil Fund exclaimed.

The Circle IPO? It was off the charts! It's crystal clear that traditional investors are chomping at the bit for a piece of the crypto action. Circle hit the trading floor on June 4 at $31 a share, and by June 10, it was soaring at $115.25—a jaw-dropping 271% surge in less than a week!

Why Sigil Went All-In on Circle

Sigil Fund didn't just throw darts at a board; they saw the bigger picture. They're all about stablecoins being the unsung heroes of crypto, connecting the dots between traditional finance and the wild world of DeFi. And guess what? Even the tech giants are sniffing around, thinking about launching their own stablecoins!

Circle's making bank by holding reserves that back their stablecoins one-to-one. We're talking short-term Treasuries and repo agreements that churn out some serious yield. The more stablecoins Circle pumps out, the fatter their potential returns get!

Right now, Circle's sitting on a cool $33 billion in reserves, with $11 billion in short-term Treasuries and $16 billion in repo agreements. That's raking in a sweet $1.46 billion in net revenue for the firm. As the USDC market cap keeps climbing, Circle's revenues and profits are set to follow suit!

Sigil Fund's calling it like it is: Circle is the only "clean investable" option out there for getting in on the stablecoin action. Take Tether, the biggest stablecoin issuer—it's a private club, no shares for the public!