BlackRock Set to Invest in Circle’s Upcoming IPO
BlackRock Inc. is eyeing a significant stake in Circle Internet Group Inc.’s upcoming IPO.According to Bloomberg, the financial giant plans to buy about 10% of Circle’s shares. This move could raise up to $624 million for the USDC stablecoin issuer.
circle’s IPO is gaining traction, with orders surpassing the available shares. The company’s co-founder and CEO, Jeremy Allaire, is among the sellers. The IPO is set to price on June 4. Another major player, Ark Investment Management, led by Cathie Wood, is also interested, aiming to buy 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.
