The significant surge in Circle’s first-day trading could prompt institutional investors to set higher IPO prices for upcoming listings. Imminent IPOs include Omada Health, which is pricing on Thursday, and Klarna, a fintech that’s set to list next week.

Circle, the company behind the $61 billion stablecoin USDC, made a roaring debut on the New York Stock Exchange Thursday, becoming the first stablecoin issuer to go public and making CEO and cofounder Jeremy Allaire a billionaire.

Shares of Circle surged after its debut as a public company, but the crypto player may face headwinds if the Federal Reserve cuts interest rates further this year.

Omada Health is making its public-market debut, propelled by Americans’ renewed focus on how weight affects physical health.

Shares of Omada Health finished their trading debut on the Nasdaq above their IPO price after the virtual chronic care firm priced its initial public offering in the middle of its expected range. Omada Health stock closed Friday at $23,