Blackrock Inc. Considering acquiring approx. 10% of the shares offered in Circle’s upcoming original public offer (IPO) reported Bloomberg on Wednesday with reference to people who are familiar with the case.
The IPO archiving, which was published on Tuesday, states plans to offer 24 million shares in Class A – 9.6 million from circle and 14.4 million from existing stakeholders.
According to the filing, Cathie Woods Ark Investment Management has expressed interest in buying up to $ 150 million of the IPO shares. The shares are expected to be priced between $ 24 and $ 26 and will trade under the ticker ‘CRCL’.
Blackrock’s potential commitment, though significant, is still up in the air. Bloomberg reported that it remains unclear whether Blackrock would invest directly or via an affiliate vehicle and that it could eventually go away from the deal.
Blackrock did not immediately respond to Coindesk’s request for comment.
Asset Management Giant is already maintaining a close relationship with Circle. It manages the Circle Reserve Fund, a Government Money Market Fund that owns 90% of Reserves Backing Circle’s USDC StableCOin. USDC is one of the biggest dollar-pegged cryptocurrencies used widely across crypto trade and defi protocols.
If BlackRock follows, the move would mark another major entry point for traditional funding in the digital asset space, which further anchors stablecoins as USDC in the wider financial system.
IPO would make Circle one of the few large crypto-native companies to publish in the United States after a long break in the public market debuting from the sector. Circle previously tried to become public via a SPAC fusion in 202, which was then scrapped.
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