🖲️ BlackRock aims for 10% of Circle: the TradFi giant wants crypto stablecoins in its portfolio. Funds and more! 🖲️
✅ According to reports from Bloomberg – citing informed sources – BlackRock would like to acquire at least 10% of Circle, the issuer of USDC that will soon be listed on the NYSE in New York. The stock listing has attracted interest from several traditional finance companies that have long had interests in the crypto markets.
✅ Among these is not only BlackRock, which would need to invest about $600 million to reach a 10% stake in Circle, but also ARK (which manages a Bitcoin ETF in the States), which wants to invest about $150 million.
✅ BlackRock's entry is not the first contact between the two companies. In fact, BlackRock manages the money market fund that serves as a reserve for over $50 billion of USDC in circulation, according to the latest statements released by the company.
