2025-05-29 02:51:57
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BlackRock eyes 10% stake in Circle IPO: report

BlackRock eyes 10% stake in Circle IPO: report

BlackRock Inc. is planning to acquire roughly 10% of the shares in Circle Internet Group Inc.’s upcoming initial public offering, according to Bloomberg reporting. 

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.

Circle’s 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.

Circle’s IPO is reportedly oversubscribed, with orders exceeding the shares available, Bloomberg reported.

TradFi’s crypto embrace 

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 Circle’s operations through the Circle Reserve Fund, which holds around $30 billion in assets and backs 90% of Circle’s 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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