Blackrock Inc. is considering acquiring approximately 10% of the actions offered in the next initial public offer (IPO) of Circle, Bloomberg reported Wednesday, citing people familiar with the matter.
OPI’s presentation was made public on Tuesday, it establishes plans to offer 24 million class A shares: 9.6 million Circle and 14.4 million existing interested parties.
According to the presentation, the management of ARK investments by Cathie Wood has expressed interest in buying up to $ 150 million in OPO shares. The shares are expected to have a price between $ 24 and $ 26, and will be quoted under the ‘CRCL’ ticket.
Blackrock’s possible participation, although significant, is still in the air. Bloomberg reported that it is not clear if Blackrock would directly invest or through an affiliated vehicle, and that he could finally get away from the agreement.
Blackrock did not respond immediately to the request for comments from Coindesk.
The asset management giant already maintains a close relationship with Circle. It manages the Circle Reserve Fund, a government market fund of the government that has 90% of the reserves of the USDC’s stable. The USDC is one of the largest cryptocurrencies with dollars, widely used in cryptography and defi trade protocols.
If Blackrock continues, the movement would mark another important entry point for traditional finance in the digital asset space, further strengthening the stable such as the USDC in the broader financial system.
The opi would make a circle one of the few large crypto-national companies that was made public in the US. After a long pause in the public market debuts of the sector. Circle previously tried to make public through a Spac fusion in 202, which was later discarded.
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