BlackRock Reportedly Targeting Major Stake in Upcoming Crypto IPO
Circle, the issuer behind the USDC stablecoin, is preparing to go public, and sources say BlackRock is gearing up to take a significant piece of the action—possibly acquiring 10% of the offering.
The move would deepen BlackRock’s ties to Circle, as it already oversees the Circle Reserve Fund, which backs most of USDC’s reserves and holds close to $30 billion in assets.
The IPO, expected to price between $24 and $26 per share, is already attracting strong interest. Circle plans to release 24 million shares, with the option to increase that to 27.6 million. If fully subscribed, the sale could raise up to $624 million. Roughly 40% of the shares will be newly issued, with the rest coming from existing…
