PANews reported on May 29 that according to Bloomberg, BlackRock, the world's largest asset management company, plans to subscribe to about 10% of the shares in Circle Internet Group's initial public offering (IPO). Circle and its shareholders (including CEO Jeremy Allaire) plan to raise up to US$624 million through the IPO, and Ark Invest has expressed its intention to subscribe to US$150 million of shares.
Circle's USDC stablecoin is currently held by a government money market fund managed by BlackRock with 90% of its reserves held, which reached $53.5 billion as of May 22. The IPO pricing will be determined on June 4, and the current subscription demand has exceeded the issuance volume by several times.
