BlackRock Eyes 10% Stake in Circle's Upcoming IPO Amid USDC Expansion

BlackRock Inc. is reportedly considering acquiring approximately 10% of the shares in Circle’s upcoming initial public offering (IPO), according to Bloomberg sources. Circle, the issuer of the USDC stablecoin, plans to list 24 million Class A shares, including 9.6 million newly issued by the company and 14.4 million from existing shareholders.

The IPO, filed Tuesday, marks a significant moment for the crypto industry, potentially positioning Circle as one of the few major crypto-native companies to go public in the U.S. following a lull in listings. Circle had previously attempted a public debut via a SPAC merger in 2022, which was later canceled.

ARK Investment Management, led by Cathie Wood, has expressed interest in purchasing up to $150 million worth of the IPO shares. The offering is expected to be priced between $24 and $26 per share and will trade under the ticker symbol 'CRCL'.

While BlackRock’s participation is not confirmed, its involvement would reinforce traditional finance's growing role in the crypto space. The asset manager already plays a key role in Circle’s ecosystem by managing the Circle Reserve Fund, which holds 90% of the reserves backing USDC. This strategic relationship highlights USDC’s increasing integration into mainstream financial systems, especially in decentralized finance (DeFi) and crypto trading.

If BlackRock moves forward, it would mark another milestone in the convergence of digital assets and institutional finance, potentially boosting investor confidence in Circle’s IPO. BlackRock has not commented publicly on the matter.

The deal, if finalized, would further solidify USDC's relevance and underline institutional interest in blockchain-based financial infrastructure.