Asset manager BlackRock has shown interest in acquiring a 10% stake in the USDC stablecoin issuer, Circle. The anticipated IPO will attract major crypto and traditional finance firms. This follows an institutional entanglement thickening in the crypto market, adding an extra layer of legitimacy to the rising assets.
Large Companies Eye Circle's IPO
BlackRock is preparing to acquire part of Circle's shares in its upcoming IPO, Bloomberg reported, citing sources familiar with the matter. According to a recent filing with the Securities and Exchange Commission (SEC), Circle's CEO, Jeremy Allaire, plans to raise about $624 million in the IPO. The deal, expected on June 4, is anticipated to see multiple orders for the available shares.
Sources said the details of the deal are not finalized, and the $9 trillion asset manager could step in to acquire a stake through another vehicle or opt out entirely. BlackRock and Circle are no strangers, as they have already closed previous deals. BlackRock manages a money market fund for Circle that backs the USDC stablecoin. The fund now has approximately $53.5 billion.
USDC adoption is projected to be based on gains from the last three quarters. Recent institutional developments in the United States, with its booming user base, are expected to favor the asset. Upcoming stablecoin regulations will also boost its compliance across multiple jurisdictions.
Circle initially presented its IPO on April 1, but it was delayed due to growing economic concerns amid the U.S. tariff wars. The company has attracted major cryptocurrency firms like Ripple and Coinbase, as users flock to its USDC stablecoin. Fortune reported on informal sale talks with Coinbase and Ripple.
However, Circle insisted it was not for sale after reports of a $4 billion offer considered too low. According to rebuttals, Circle remains committed to its long-term goals. Meanwhile, Cathie Wood's Ark Invest is also preparing for a $150 million investment in Circle's IPO.
The Community Expresses Optimism About Growing Adoption
Digital asset traders remain excited as more institutional investors increase their exposure to the crypto market. According to experts, the inflows have positioned assets for significant gains in the second quarter of 2025. From investing in Bitcoin mining companies to stablecoin issuers, traditional players have raised the bar.
Strategy, H100, and Addentax made recent Bitcoin acquisitions as the price closed at $110k. Meanwhile, GameStop announced a $513 million purchase, acquiring 4,710 BTC.#CEXvsDEX101 #TradingTypes101 $BNB $USDC $XRP
