BlackRock plans to purchase approximately 10% of shares in Circle Internet Group Inc.'s initial public offering, highlighting the growing connection between traditional finance and the cryptocurrency sector. Circle, as a stablecoin issuer, along with some of its shareholders including co-founder and CEO Jeremy Allaire, aims to raise up to 624 million USD through this fundraising. According to documents filed with the U.S. Securities and Exchange Commission, Cathie Wood's Ark Investment Management also expressed intent to purchase shares worth up to 150 million USD.

BlackRock Inc. plans to acquire about 10% of the shares offered in Circle Internet Group Inc.’s initial public offering, according to people familiar with the matter, as the worlds of traditional finance and cryptocurrency continue to deepen their ties.The stablecoin issuer and some of its shareholders including co-founder and Chief Executive Officer Jeremy Allaire are seeking to raise as much as $624 million in the offering, according to a US Securities and Exchange Commission filing Tuesday. Cathie Wood’s Ark Investment Management has indicated an interest in buying as much as $150 million of shares in the offering, the filing shows.

BlackRock Plans to Participate in Circle Internet's IPO, Acquiring Approximately 10% Stake