BlackRock Set To Invest Heavily in Circle’s IPO

BlackRock, a global investment giant, is rumored to be planning a substantial stake in the upcoming IPO of Circle Internet Financial Ltd. Sources indicate that they aim to acquire up to 10% of the new shares issued during the offering. This strategic move aligns with Blackrock’s existing partnership as they manage the Circle Reserve Fund, which holds nearly $30 billion in government money market funds, and back the USDC stablecoin. Circle plans to raise approximately $624 million through the IPO, selling 24 million shares of Class A common stock at an estimated price range of $24 to $26. The company aims to price the offering on June 4th.