USDC supply nears $61 billion as institutional demand outpaces USDT growth

Regulatory clarity, along with Circle’s IPO push, is accelerating USDC growth among institutions.
According to TheBlock on the 21st (local time), as of the 19th, the circulation of USDC is approaching $61 billion, up 170% from the beginning of the year ($44 billion).
$1.2 billion in stablecoin supply, a 38.6% growth rate, which represents a significant portion of the current total stablecoin supply of $226 billion.
During the same period, Tether (USDT) only grew from $138 billion to $145 billion, a relatively small growth rate. Ethereum remains
It is the dominant chain, hosting $130 billion of the total stablecoin circulating volume, with the rest split between other blockchains such as TRON and Solana.
USDC's rapid growth is likely driven by regulatory clarity and institutional favorability, especially as Circle prepares for its IPO.
Circle's transparent reserve operations and compliance regime have led to USDC being named the "preferred stablecoin" by regulatory-compliant institutions within the United States and European Union (EU) markets.
Circle's IPO is seen as a strategic attempt to break down the boundaries between traditional finance and the cryptocurrency industry and build a bridge between the institutional world and digital assets.
This approach aligns with the trend for institutional investors to have a reliable digital dollar, raising the possibility that USDC could establish itself as an institutional-only stablecoin.