BlackRock Mulling 10% Stake in Circle’s IPO, Joining ARK as Potential Buyer: Bloomberg

May 28, 2025

in Breaking, News

Reading Time: 8 mins read

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By Helene Braun, AI Boost|Edited by Aoyon Ashraf

Updated May 28, 2025, 5:52 p.m. Published May 28, 2025, 5:43 p.m.

BlackRock is considering buying 10% of the shares in Circle’s IPO, according to Bloomberg.
Circle filed its IPO paperwork on Tuesday, offering 24 million shares split between the company and its stakeholders.
ARK Invest has indicated interest in purchasing $150 million worth of shares in the offering.

BlackRock Inc. is considering acquiring roughly 10% of the shares offered in Circle’s upcoming initial public offering (IPO), Bloomberg reported Wednesday, citing people familiar with the matter.

The IPO filing, made public on Tuesday, lays out plans to offer 24 million Class A shares — 9.6 million from Circle and 14.4 million from existing stakeholders.

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According to the filing, Cathie Wood’s ARK Investment Management has expressed interest in buying up to $150 million worth of the IPO shares. The shares are expected to be priced between $24 and $26, and will be trading under the ticker ‘CRCL’.

BlackRock’s potential involvement, though significant, is still up in the air. Bloomberg reported that it remains unclear whether BlackRock would invest directly or via an affiliated vehicle, and that it could ultimately walk away from the deal.

BlackRock didn’t immediately respond to CoinDesk’s request for comment.

The asset management giant already maintains a close relationship with Circle. It manages the Circle Reserve Fund, a government money market fund that holds 90% of the reserves backing Circle’s USDC stablecoin. USDC is one of the largest dollar-pegged cryptocurrencies, used widely across crypto trading and DeFi protocols.

If BlackRock follows through, the move would mark another major entry point for traditional finance into the digital asset space, further entrenching stablecoins like USDC in the broader financial system.

The IPO would make Circle one of the few large crypto-native firms to go public in the U.S. after a long lull in public market debuts from the sector. Circle previously attempted to go public via a SPAC merger in 202, which was subsequently scrapped.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Helene is a New York-based markets reporter at CoinDesk, covering the latest news from Wall Street, the rise of the spot bitcoin exchange-traded funds and updates on crypto markets. She is a graduate of New York University’s business and economic reporting program and has appeared on CBS News, YahooFinance and Nasdaq TradeTalks. She holds BTC and ETH.

“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.