BlackRock Plans 10% Stake in Circle Internet IPO

BlackRock is planning to acquire approximately 10% of the shares in Circle Internet Group's upcoming IPO, which aims to raise around $624 million by offering 24 million Class A shares. The shares are expected to be priced on June 4, 2025, and will trade under the ticker 'CRCL'. Alongside BlackRock, Cathie Wood's ARK Investment Management has expressed interest in purchasing up to $150 million worth of shares. BlackRock already has a close relationship with Circle through managing the Circle Reserve Fund, which backs the USDC stablecoin, one of the largest dollar-pegged cryptocurrencies. This IPO would mark a significant entry for traditional finance into the digital asset space and enhance the legitimacy of stablecoins within the broader financial system. However, BlackRock's final involvement is still subject to change, and it remains unclear whether it will invest directly or through an affiliated entity.