Bitcoin Price Rises. This Could Be the Next Big Crypto IPO After Success of Circle Stock. — Barrons.com

By George Glover and Elsa OhlenBitcoin price rose Monday, building on a strong week for cryptocurrencies as an asset class — and more good news could be on the way soon.The world's largest token was up 1.6% to $107,409 over the past 24 hours, according to data from CoinDesk. It's trading about 4% below the record high of above $111,000 it hit last month.Cryptos are typically more volatile than other asset classes but the largest digital coins have been fairly stable over the weekend.The subdued price action could be reflective of investor caution ahead of high-stakes U.S.-China trade talks in London, according to analysts at Kudotrade, a trading platform."The outcome of the U.S.-China negotiations could influence risk appetite across global markets," said Kudotrade's Konstantinos Chrysikos.Circle Internet Group, which issues the USD Coin, a cryptocurrency that's pegged to the dollar, made a stellar stock-market debut last week, surging 168% on Thursday — its first session trading — and then another 29% Friday. Shares were up another 12% ahead of Monday's opening bell.Circle's successful initial public offering could be a sign that investors want more exposure to digital assets. Crypto exchange Gemini, which was founded by Cameron and Tyler Winklevoss in 2014, said Friday in a statement that it had filed confidential paperwork with the Securities and Exchange Commission for an IPO of its own.Other major tokens were also up early Monday. Ether and XRP were both up about 1% over the past 24 hours, while Solana rose 4.3%.Write to George Glover at [email protected] and Elsa Ohlen at [email protected] content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.