Blackrock Inc. plans to acquire around 10% of the shares offered in the next public issue (IPO) of Circle, Bloomberg reported on Wednesday, citing people familiar with the issue.
The IPO depot, made public on Tuesday, plans to offer 24 million class A shares – 9.6 million circle and 14.4 million existing stakeholders.
According to the file, Cathe Wood’s Ark Investment Management has expressed interest in buying up to $ 150 million from IPO shares. Actions should cost between $ 24 and $ 26 and will be negotiated under the Ticker “CRCL”.
Blackrock’s potential involvement, although significant, is still in the air. Bloomberg said that it is not clear if BlackRock would invest directly or via an affiliated vehicle, and that it could ultimately move away from the agreement.
Blackrock did not immediately respond to the request for Coindesk comments.
The active management giant already maintains a close relationship with Circle. It manages the Circle Reserve Fund, a government market fund which holds 90% of the Stablecoin USDC reserves of the Circle of Reserves. The USDC is one of the largest sharp cryptocurrencies, widely used through trading and crypto challenge protocols.
If BlackRock follows, this decision will mark another major entry point for traditional finance in the space of digital assets, by further anchoring stablecoins like the USDC in the wider financial system.
The IPO would make one of the rare crypto-swimming companies to make in the United States circle after a long lull in the start of the public market in the sector. Circle previously tried to become public via a spac merger in 202, which was then abandoned.
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