Circle, the issuer of the USDC stablecoin, has successfully raised $1.1 billion in its initial public offering (IPO). The offering price was above expectations, attracting significant investor demand.
Notably, global asset management giant BlackRock is looking to acquire approximately 10% of Circle’s IPO shares. This move showcases BlackRock’s growing interest in the digital asset sector and its recognition of the investment value of stablecoins. BlackRock currently manages the Circle Reserve Fund, which holds 90% of the reserves backing USDC, one of the most widely used dollar – pegged stablecoins in the cryptocurrency ecosystem.
Cathie Wood’s ARK Investment Management has also expressed interest in Circle’s IPO. ARK Invest plans to purchase up to $150 million worth of IPO shares, indicating its confidence in Circle’s growth potential.
The successful IPO of Circle and the attention it has received from major investors such as BlackRock and ARK Invest mark an important milestone in the development of the cryptocurrency industry. It not only reflects the increasing acceptance of digital assets by traditional financial institutions but also provides new impetus for the growth and development of the cryptocurrency market.
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