‘Mixed year for IPOs’ as crypto pulls down US IPO performance
Investors would have been better off investing in the S&P500 than betting on US initial public offerings in 2025, with crypto and AI public debuts partly to blame.
Crypto and AI-based initial public offerings last year reportedly dragged down the performance of all US public debuts to fall behind the tech-heavy index S&P 500.
Shares of all companies that went public last year, not including closed-end funds and blank-check companies, gained 13.9% on a weighted average basis, underperforming the S&P 500’s comparative 16% gain, Bloomberg reported on Monday.
Last year saw some of the crypto industry’s biggest players go public as the Trump administration gave Wall Street the confidence to back crypto companies with billions of dollars. However, not every company performed.
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