Global asset management heavyweight BlackRock is reportedly preparing to acquire a 10% stake in Circle’s upcoming initial public offering, marking another strategic step into the digital asset sector.
BlackRock’s Deepening Ties with Crypto
According to a Bloomberg report, the $11 trillion firm is looking to participate in the public listing of Circle, the company behind the USDC stablecoin.
Circle’s IPO filing, made public on Tuesday, revealed plans to offer 24 million Class A shares, including 9.6 million from the company itself and 14.4 million from existing stakeholders. Shares are expected to be priced between $24 and $26 and will trade under the ticker ‘CRCL’. The offering seeks to raise approximately $624 million.
Potential Investment Still Uncertain
While BlackRock’s interest in acquiring a significant stake has been widely reported, Bloomberg noted that details remain fluid. It is currently unclear whether BlackRock intends to invest directly or through an affiliated investment vehicle, and there is no certainty that the transaction will materialize as the firm declined to comment on the matter.
This potential move would strengthen the already close relationship between the two firms. BlackRock currently manages the Circle Reserve Fund, a government money market fund holding 90% of the reserves backing USDC, one of the most widely used dollar-pegged stablecoins in the cryptocurrency ecosystem.
IPO Draws Interest from Major Players
Circle’s public debut is attracting attention beyond BlackRock. Cathie Wood’s ARK Investment Management has reportedly expressed interest in purchasing up to $150 million worth of IPO shares, according to disclosures. The offering marks a rare public listing for a crypto-native firm in the U.S. after a prolonged absence of such market activity.
Circle’s previous attempt to go public via a SPAC merger in 2022 was ultimately shelved. Now, amid a broader resurgence of institutional interest in digital assets, the company’s IPO arrives at a pivotal moment for the industry.
Acquisition Talks Linger Despite IPO Plans
Despite its IPO preparations, Circle remains a subject of acquisition speculation. Both Coinbase and Ripple have been publicly linked as potential buyers of the firm, and neither party has dismissed these reports. The prospect of a takeover continues to shadow the IPO, leaving open the possibility of a corporate shake-up even after the listing.
BlackRock’s Expanding Crypto Footprint
Since the start of 2024, BlackRock has emerged as a persistent presence in the cryptocurrency sector. Its iShares Bitcoin Trust (IBIT) was among the first wave of spot Bitcoin ETFs approved in the U.S. and became one of the most successful ETF launches to date. The asset manager’s consistent activity has underscored its growing confidence in digital assets, with the possible Circle stake representing yet another expansion of its crypto footprint.
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Source: https://cryptodaily.co.uk/2025/05/blackrock-eyes-10-stake-in-circles-ipo-amid-growing-crypto-ambitions