BlackRock eyes 10% stake in Circle's IPO — Report

Asset managers BlackRock and ARK Invest have indicated interest in acquiring over $150 million in Circle’s shares

BlackRock is reportedly planning to take a significant stake in Circle’s upcoming initial public offering (IPO).

According to a May 28 Bloomberg report citing anonymous sources, BlackRock is looking to purchase roughly 10% of the offering. Circle, the issuer of the USDC stablecoin, is aiming to raise $624 million in its initial public offering

Cathie Wood’s Ark Investment Management is also interested in buying $150 million worth of shares in the offering, the report said. 

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