BlackRock Inc. is planning to acquire roughly 10% of the shares in Circle Internet Group Inc.âs upcoming initial public offering, according to Bloomberg reporting.Â
The IPO by the USDC (USDC) stablecoin issuer is expected to raise as much as $624 million, according to a filing with the US Securities and Exchange Commission.
Circleâs co-founder and CEO, Jeremy Allaire, is among the selling shareholders, with the offering scheduled to price on June 4.
Ark Investment Management, led by Cathie Wood, has also signaled interest in purchasing up to $150 million in shares, the filing shows.
Circleâs IPO is reportedly oversubscribed, with orders exceeding the shares available, Bloomberg reported.
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TradFiâs crypto embraceÂ
The offering marks another step in the deepening relationship between traditional finance and crypto as Circle moves toward public markets amid growing political support from figures like President Donald Trump and emerging regulatory frameworks in Congress.
BlackRock already plays a major role in Circleâs operations through the Circle Reserve Fund, which holds around $30 billion in assets and backs 90% of Circleâs USDC stablecoin reserves. The fund is managed by BlackRock and structured as a government money market fund.
While BlackRock has not confirmed the investment and may still adjust its plans, its potential stake underscores the expanding role of traditional asset managers in the crypto sector. Both Circle and BlackRock declined to comment.
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Norway-based K33 firm has raised $5.6 million from insiders to acquire Bitcoin.
Norwegian digital asset company K33 became the latest firm to join the Bitcoin (BTC) train. On Wednesday, May 28, the company announced it secured 60 million Swedish krona, worth about $5.6 million, for its Bitcoin treasury.
To fund the acquisition, the Oslo-headquartered company, which is listed on Nasdaq First North in Stockholm, issued 150.56 million new shares worth 15 million SEK. K33 also issued 301.12 million free warrants valued at 45 million SEK. According to the company, the capital comes from insiders and aligned investors, including Klein Group and Modiola AS.
Free warrants are zero-interest instruments that investors can later convert into equity at the same price. If converted before March 2026, investors are entitled to additional free warrants at the same conversion rate. If fully exercised, the warrants would allow K33 to raise an additional 75 million SEK, approximately $7.1 million.
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Why is K33 buying Bitcoin?
K33 CEO Torbjørn Bull Jenssen said the move aligns with the companyâs broader strategic vision and underscores its commitment to Bitcoin as both a financial asset and institutional offering.
âWe strongly believe that Bitcoin will become an instrumental part of the global financial system. I am excited to now start the process of building a strong balance sheet backed by Bitcoin, not only as a strong conviction investment but, more importantly, as a strategic enabler for K33 as a leading cryptocurrency broker,â Torbjørn Bull Jenssen, K33.
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K33 is a digital asset investment and brokerage firm that serves institutional clients across Europe. Its offerings include trading and brokerage services, crypto custody, and industry research.
The firm is just one of many companies that recently started investing in Bitcoin. On the same day of K33âs announcement, Japanese company Metaplanet issued $50 million in bonds to expand its Bitcoin balance sheet.
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