US EditionBlackRock (BLK) Eyes 10% Stake in Circle’s IPO, Joins ARK as Potential Buyer: Bloomberg
- Circle Internet Group is set to sell 24 million Class A shares in its initial public offering scheduled for June 4 in the United States, targeting proceeds of up to $624 million.
- This offering follows Circle’s earlier scrapped SPAC merger and responds to growing institutional interest and regulatory developments in crypto.
- BlackRock intends to acquire about 10% of the IPO shares, while Cathie Wood's ARK Investment Management aims to buy up to $150 million worth.
- Circle reported $1.67 billion revenue in 2024, a 16% increase year-over-year, but net income fell to $155.7 million, with USDC holding a $60.9 billion market cap.
- The IPO could strengthen traditional finance’s crypto exposure and deepen USDC’s position in stablecoins amid an oversubscribed offering.
29 Articles
29 Articles
BlackRock Is Said to Plan to Buy Shares in Circle Internet IPO
BlackRock Inc. plans to acquire about 10% of the shares offered in Circle Internet Group Inc.’s initial public offering, according to people familiar with the matter, as the worlds of traditional finance and cryptocurrency continue to deepen their ties.
Circle prepares for IPO with interest from BlackRock and ARK
Circle, the firm behind the second-largest stablecoin, USDC, is preparing for its initial public offering (IPO). It’s expected to offer a total of 24 million shares, with 14.4 million coming from existing shareholders, and it’s hoping to offer the shares between $24 and $26. This would value the firm at up to $5.65 billion, according to Bloomberg. The S-1 filing from Circle notes that ARK Investment Management has “indicated an interest in purch…
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