BlackRock, the world’s largest asset manager, is reportedly planning to acquire approximately 10% of Circle Internet Group’s initial public offering (IPO), a move that signals deepening institutional confidence in the stablecoin space.
Circle, the New York-based firm behind USD Coin (USDC), publicly filed its registration statement for the IPO, detailing plans to raise up to $624 million through the sale of 24 million shares priced between $24 and $26 each.
Sponsored
The IPO is expected to price on June 4, aiming for a fully diluted valuation of $6.71 billion. The shares under the ticker “CRCL” are traded on the New York Stock Exchange.
BlackRock’s Deeper Bet
Circle’s IPO is already generating buzz across the crypto sector, with institutional interest running high. But BlackRock’s potential 10% stake adds a new layer of strategic importance.
According to a Bloomberg report , the offering is already oversubscribed, indicating strong demand from institutional investors.
This isn’t BlackRock’s first involvement with Circle. The firm manages the Circle Reserve Fund, an SEC-registered government money market fund that holds approximately 90% of the reserves backing USDC. As of May 30, 2025, the Circle Reserve Fund has grown to over $53 billion in net assets.
In March 2025, Circle and BlackRock signed a memorandum of understanding, designating BlackRock as the preferred manager for Circle’s stablecoin reserves.
Other Big Names Are Circling Too
Earlier, ARK Investment Management, led by Cathie Wood, made headlines by committing up to $150 million to Circle’s IPO.
Ripple Labs has also shown strong interest. In April 2025, the issuer of the RLUSD stablecoin reportedly made a bid between $4 billion and $5 billion to acquire Circle. However, Circle rejected the offer, calling it too low.
On the Flipside
- While the current market sentiment appears favorable, the stablecoin space is becoming increasingly competitive, posing potential long-term challenges.
Why It Matters
With backers like BlackRock and ARK Invest, Circle enters public markets with a level of institutional endorsement few crypto-native firms have secured. That vote of confidence may shape how the broader financial world views the future of stablecoins — and their role in global finance.
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An IPO, or Initial Public Offering, is when a private company sells its shares to the public for the first time. This marks its transition to a publicly traded company, shifting ownership from private investors to public shareholders.
Once Circle Internet Group, Inc. (CRCL) shares begin trading on the New York Stock Exchange (NYSE), you can purchase them through any brokerage account that offers access to U.S. stock markets. Some brokerage platforms may also provide access to IPO shares.
Circle aims to raise up to $624 million through its IPO.
