In what is another clear sign of its deepening ties with the cryptocurrency sector, $11 trillion asset manager BlackRock is reportedly planning to acquire 10% of Circle IPO shares. Indeed, the firm is set to load up on the USDC stablecoin issuer’s initial public offering, according to a Bloomberg report.
In its recent US Securities and Exchange Commission (SEC) filing, the stablecoin issuer made clear they are seeking to raise $624 million in its offering. Moreover, it is still facing continued talks of an acquisition, with both Coinbase and Ripple interested in buying the crypto firm.
JUST IN: BlackRock to acquire 10% of $USDC issuer Circle IPO shares.
— Watcher.Guru (@WatcherGuru) May 28, 2025
Also Read: Circle Launches IPO Eyeing $624M in Long-Awaited Listing
BlackRock Buying 10% of USDC Stablecoin Issuer Circle IPO Shares
Since the start of 2024, BlackRock has been a surprising constant in the cryptocurrency sector. It was among the initial issuers of the first batch of approved spot Bitcoin ETFs. Moreover, its iShares Bitcoin Trust (IBIT) had been among the most successful exchange-traded fund launches in history.
That has seemingly only encouraged its further commitment and participation within the industry based on its recent actions. Indeed, BlackRock is reportedly planning to purchase 10% of USDC stablecoin issuer Circle’s recently filed IPO shares. According to sources, it is set to invest heavily in the new offering.
Also Read: USDC Issuer Circle Approved As Money Service Provider in Abu Dhabi
BlackRock currently manages a government money market fund for Circle. Moreover, it holds 90% of the reserves that back its USDC stablecoin, Bloomberg reports. As of late April 2024, that Circle Reserve Fund held as much as $30 billion.
The asset manager’s interest in the Circle IPO is notable but hardly surprising. Ark Invest Cathie Wood has expressed interest in buying in on the offering. Specifically, she has reportedly shown an interest in purchasing as much as $150 million worth of shares.
All the while, talks of acquisition have underscored the launch. Both Coinbase and Ripple had been publicly linked to buying Circle outright. Despite the arrival of the long-awaited IPO, there has been no public rebuttal of the reports that the purchase could still take place.