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cryptonews 2025-05-28 18:52:13

BlackRock to Buy Stake in Circle Internet Ahead of IPO: Bloomberg Report

BlackRock Inc. is reportedly planning to purchase around 10% of the shares offered in Circle Internet Group Inc.’s upcoming initial public offering (IPO), according to a Bloomberg report on May 28. According to Bloomberg, BlackRock plans to purchase approximately 10% of the shares offered in Circle Internet Group’s proposed IPO. A filing with the U.S. Securities and Exchange Commission shows Circle and certain shareholders, including CEO Jeremy Allaire, aim to raise up to… — Wu Blockchain (@WuBlockchain) May 28, 2025 The development, shared by people familiar with the matter, shows the convergence of traditional finance and digital assets, especially as crypto firms seek deeper legitimacy in public markets. Circle Targets $624 Million in IPO Amid Surging Demand Circle, the issuer of the USDC stablecoin, plans to raise up to $624 million through its IPO, according to a filing with the U.S. Securities and Exchange Commission (SEC). The offering includes shares sold by the company and its shareholders, including CEO Jeremy Allaire. Cathie Wood’s Ark Investment Management has also expressed interest in acquiring up to $150 million worth of shares. Bloomberg reported that the IPO has already received interest several times greater than the number of shares available, indicating strong demand. The deal is scheduled to price on June 4, and investor enthusiasm shows renewed confidence in crypto-focused firms returning to the public markets. BlackRock’s Ties to USDC Deepen BlackRock’s involvement with Circle is not entirely new. The asset management giant already oversees a government money market fund that holds approximately 90% of the reserves backing USDC. According to Circle’s SEC filing, the Circle Reserve Fund managed nearly $30 billion in net assets as of April 30, 2024. This deep financial entwinement gives BlackRock a vested interest in the stability and growth of Circle’s operations. Though the exact structure of BlackRock’s acquisition—whether through a direct stake, an affiliated entity, or a fund—remains undecided, the move reflects increasing confidence from institutional players in blockchain-based financial infrastructure. Circle’s Long-Awaited IPO Marks New Era for Stablecoin Giant The IPO marks Circle’s long-anticipated public debut, opening a new chapter for one of the most prominent players in the stablecoin sector. The timing comes as regulatory scrutiny on digital asset firms remains high, with investors watching closely to gauge sentiment on publicly listed crypto infrastructure companies. J.P. Morgan, Citigroup, and Goldman Sachs are serving as joint lead active bookrunners. Barclays, Deutsche Bank, and Société Générale are also acting as bookrunners, while a long list of co-managers includes BNY Capital Markets, Canaccord Genuity, Oppenheimer & Co., and Santander. The post BlackRock to Buy Stake in Circle Internet Ahead of IPO: Bloomberg Report appeared first on Cryptonews .

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