Global investment giant, BlackRock, is reportedly preparing a significant stake acquisition of Circle’s upcoming initial public offering (IPO), indicating increasing interest in fintech from major market players. According to a report from Bloomberg, BlackRock is considering purchasing approximately 10% of the offering of Circle, known for being a premier issuer of the USDC stablecoin. Circle aims to secure $624 million through this IPO.
Notably, another significant stakeholder, Ark Investment Management, led by Cathie Wood, has also expressed interest in buying $150 million worth of shares in the offering.
In a clear sign of investor demand, the initial public offering by Circle has reportedly received orders for more shares than the 24 million shares of Class A common stock that are available. Prior to this, Circle had filed for an IPO in April but had delayed plans due to economy-related uncertainties.
Investments from the likes of BlackRock and Ark Investment Management underline the growing popularity of fintech firms amongst traditional investment heavyweights. As Circle becomes yet another fintech firm to venture into the public market, all signs point towards a continued trend of investor interest in the space. The future for the fintech industry only looks brighter with these developments.
