In a move that could only be described as audacious, Blackrock Inc. has set its sights on a rather delectable morsel: a 10% stake in the forthcoming initial public offering (IPO) of Circle Internet Group Inc.
As the ever-reliable Bloomberg has reported—and who are we to question their sources?—this maneuver places the world’s largest asset manager squarely in the limelight of a public debut that promises to intertwine the staid corridors of Wall Street with the whimsical world of digital assets. One can only imagine the clinking of champagne glasses as the news breaks!
Circle, in its infinite wisdom, has announced it will be offering a staggering 24 million Class A shares, with prices dancing between $24 and $26. They are preparing to grace the New York Stock Exchange under the rather catchy ticker “CRCL.” One can only hope it’s not a harbinger of a rollercoaster ride for investors! 🎢
Should Blackrock’s aspirations come to fruition, we’re looking at a potential stake worth a cool $60 million to $62 million, depending on how the market decides to play its cards. It seems Blackrock has been deepening its dalliance with the crypto sector in recent years, notably as a partner and custodian for some of Circle’s USDC reserves. Ah, the sweet smell of digital currency! 💰
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2025-05-28 21:27