Orders for the offering have reportedly exceeded the number of shares available, with the pricing scheduled for June 4.
The investment management firm could acquire its stake directly or through an affiliated entity, although its final participation remains subject to change.
As a result, the IPO would deepen the existing relationship between BlackRock and Circle, as it would constitute one of the largest single-investor stakes in the crypto company.
The filing also revealed a combined interest from major institutional investors, indicating heightened demand for equity in the stablecoin issuer as it prepares to enter the public markets.
The IPO filing formalizes Circle’s long-anticipated listing plans, which previously included a terminated Special Purpose Acquisition Company deal in 2022.
With backing from institutional players and a reserve fund managed by the world’s largest asset manager, Circle is positioning itself to expand operations under a more transparent and regulated capital structure.
