BlackRock Said to Plan to Buy Shares in Circle Internet IPO 6f4w35

Circle’s IPO has received orders for multiple times the number of shares available. 414b1n

BlackRock Said to Plan to Buy Shares in Circle Internet IPO

Photo Credit: Bloomberg 1l4mu

The Circle Reserve Fund has a balance of $53.5 billion as of May 22

Highlights
  • The deal is set to price on June 4
  • The Circle Reserve Fund has a balance of $53.5 billion
  • BlackRock, Circle representatives have not commented on the development
ment

BlackRock plans to acquire about 10 percent of the shares offered in Circle Internet Group's initial public offering, according to people familiar with the matter, as the worlds of traditional finance and cryptocurrency continue to deepen their ties.

The stablecoin issuer and some of its shareholders including co-founder and Chief Executive Officer Jeremy Allaire are seeking to raise as much as $624 million (roughly Rs. 5,332 crore) in the offering, according to a US Securities and Exchange Commission filing Tuesday. Cathie Wood's Ark Investment Management has indicated an interest in buying as much as $150 million (roughly Rs. 1,281 crore) of shares in the offering, the filing shows.

Circle's IPO has received orders for multiple times the number of shares available, Bloomberg News has reported. The deal is set to price on June 4.

BlackRock manages a government money market fund on Circle's behalf that holds 90 percent of the reserves backing its USDC stablecoin, according to the filing. The Circle Reserve Fund has a balance of $53.5 billion (roughly Rs. 4,57,174 crore) as of May 22, according to the company's website.

Details of the offering may change, and BlackRock could acquire the stake through a vehicle or other d entity or opt against a deal, the people said, asking not to be identified as the information isn't public. Representatives for BlackRock and Circle declined to comment.

Crypto companies are increasingly tying their fortunes to the public markets in the US, as President Donald Trump and his allies in government embrace the industry, conferring a degree of legitimacy. Proposed regulations working their way through the US House and Senate would require stablecoins to be backed by cash and safe assets.

© 2025 Bloomberg LP

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

Comments

For the latest reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: cryptocurrency
WhatsApp Working on Option for Primary Phones on Latest Beta Release: Report
Bitcoin will Hold Strategic Importance to Strengthen US' Position Against China, Says JD Vance
Facebook Gadgets360 Twitter Share Tweet Snapchat LinkedIn Reddit Comment google-newsGoogle News

ment

Follow Us

ment

© Copyright Red Pixels Ventures Limited 2025. All rights reserved.
Trending Products »
Latest Tech News »