Major asset manager BlackRock has shown interest in acquiring a stake in Circle, the issuer of the USDC stablecoin, as it prepares for its IPO.
Big Firms 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 SEC filing, Circle’s CEO Jeremy Allaire plans to raise about $624 million in the IPO. The deal, expected on June 4, has recorded multiple orders for the available shares.
However, source indicate the deal’s details aren’t finalized, and the $9 trillion asset manager may opt for a stake through another vehicle or choose to back out. BlackRock and Circle have prior dealings, as BlackRock manages a money market fund for Circle that backs the USDC stablecoin, holding approximately $53.5 billion.
Community Expresses Optimism Over Soaring Adoption
Digital asset traders are thrilled as more institutional investors increase their exposure to the crypto market. Experts indicate that inflows have positioned assets for major upswings in Q2 2025. Traditional players have raised expectations by investing in Bitcoin mining firms and stablecoin issuers.
Stablecoin Market Prospects and New Regulations
Circle initially filed for its IPO on April 1 but delayed it due to rising economic concerns amid US tariff wars. While Circle has attracted major crypto firms like Ripple and Coinbase, users flock to its USDC stablecoin. Still, Circle insists it is not for sale despite reports of a $4 billion bid deemed too low.
The interest of large firms like BlackRock in the Circle IPO reflects a growing trust in the cryptocurrency market by institutional investors, which may further drive the development and legitimization of these assets.
