Archive · 29 May 2025
BlackRock Intends to Buy Circle Internet IPO Shares
BlackRock, a big investment company, is planning to buy a part of Circle's initial public offering (IPO), which is like when a company first offers shares to the public.
Circle deals with cryptocurrency, like Bitcoin.
BlackRock could acquire around 10% of shares, and another company, Ark Investment Management, is also interested in buying shares.
Circle is hoping to raise a lot of money from this.
This shows how traditional finance and cryptocurrencies are becoming more connected.
The funds backing the stablecoin USDC are also managed by BlackRock.
BlackRock plans to purchase about 10% of Circle Internet Group's IPO shares.
Circle aims to raise up to $624 million in the offering.
Cathie Wood's Ark Investment Management intends to buy up to $150 million in shares.
The Circle IPO has received oversubscribed orders.
BlackRock manages a government money market fund for Circle, holding 90% of USDC stablecoin reserves.
- Who
- BlackRock, Circle Internet Group, and Ark Investment Management
- What
- BlackRock plans to buy shares in Circle Internet Group's IPO.
- When
- The deal is set to price on June 4.
- Where
- United States
- Why
- To deepen ties between traditional finance and cryptocurrency.
- BlackRock's Planned Stake
- About 10%
- Circle's Fundraising Goal
- $624 million
- Ark Investment's Interest
- $150 million
- IPO Pricing Date
- June 4
- Circle Reserve Fund Balance (May 22)
- $53.5 billion