BlackRock plans to purchase approximately 10% of Circle's IPO shares According to Bloomberg, BlackRock plans to subscribe for approximately 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 $624 million through an IPO, and Ark Invest has expressed interest in subscribing to $150 million in shares. Circle's USDC stablecoin is currently held in 90% reserve by the government money market fund managed by BlackRock, with a fund size of $53.5 billion as of May 22. The pricing for this IPO will be determined on June 4th, and the current subscription demand has exceeded the issuance volume by several times.