Wall Street Giant Enters Stablecoin Arena? Bloomberg Exclusive Reveals: BlackRock Plans to Acquire 10% of Circle’s IPO Shares

Stablecoin giant Circle is set to price its Initial Public Offering (IPO) on June 4, with ticker $CRCL to be listed on the New York Stock Exchange. In addition to Cathie Wood‘s ARK Invest planning to purchase up to $150 million in shares, Bloomberg reports that asset management giant BlackRock intends to acquire 10% of Circle’s IPO shares—marking the beginning of traditional finance’s real competition in the stablecoin space.

Circle’s IPO Expected to Raise $624 Million
According to filings with the U.S. Securities and Exchange Commission, Circle plans to issue 24 million shares at a price range of $24 to $26 per share, aiming to raise $624 million. Bloomberg reports that the IPO has already received orders several times over the number of shares being offered. Pricing is scheduled for June 4. Notably, ARK Investment Management, led by Cathie Wood, plans to buy up to $150 million in shares during the offering.

BlackRock Eyes Entry into Circle?
But ARK isn’t the only investor eyeing the stablecoin market. According to Bloomberg, citing sources familiar with the matter, BlackRock is planning to acquire around 10% of Circle’s IPO shares. The details of the offering may still change, and BlackRock could acquire the shares via a fund or affiliated entity—or opt not to proceed. Both BlackRock and Circle declined to comment.

The report also notes that 90% of the reserves behind Circle’s USDC stablecoin are managed through a government money market fund run by BlackRock, showing a strong tie between traditional finance and the stablecoin sector.