TechFlow news: On June 14, newly disclosed data from Circle showed that, over the past seven days ending June 11, approximately $8.5 billion worth of USDC was issued and roughly $8.2 billion worth was redeemed, resulting in a net reduction of about $700 million in USDC’s circulating supply.
USDC’s current total circulating supply stands at approximately $74.8 billion, backed by reserve assets totaling roughly $75 billion.
Regarding reserve composition:
Overnight U.S. Treasury reverse repurchase agreements: ~$44.7 billion;
U.S. Treasuries with remaining maturities under three months: ~$18.6 billion;
Deposits at systemically important banking institutions: ~$11 billion;
Deposits at other banks: ~$700 million.
Overall, USDC’s reserve assets remain predominantly allocated to short-term U.S. Treasuries and reverse repurchase instruments—collectively accounting for over 80% of total reserves—continuing Circle’s strategy, emphasized over recent years, of prioritizing high liquidity and low-risk asset allocation.
In the stablecoin market, USDC remains the world’s second-largest U.S. dollar–pegged stablecoin, trailing only Tether’s USDT. As institutional capital continues flowing into on-chain financial markets, changes in stablecoin issuance volumes and reserve structures have become key indicators for tracking capital flows and on-chain liquidity.
