BlackRock Secures 10% of Circle’s $624M IPO, Boosting USDC Institutional Credibility

BlackRock, the world’s largest asset manager, has acquired a 10% stake in Circle’s $624 million initial public offering, marking a pivotal moment for institutional cryptocurrency adoption. This move highlights traditional finance’s increasing trust in USDC, the dollar-pegged stablecoin issued by Circle.

Circle Internet Group shares are projected to price between $24 and $26, giving the company a valuation of $6.71 billion when trading commences on June 4. BlackRock’s involvement goes beyond equity—the firm already oversees the Circle Reserve Fund, an SEC-registered entity holding 90% of USDC’s reserve assets.

This strategic alliance accelerates the merger of traditional and digital finance. Market analysts note the IPO’s pricing reflects strong demand for regulated crypto exposure, with BlackRock’s endorsement acting as a key indicator for institutional investment trends.