01:39 PM EDT, 05/28/2025 (MT Newswires) -- BlackRock ( BLK ) may acquire nearly 10% of the shares offered in Circle Internet Group's initial public offering, which is expected to price on June 4, Bloomberg reported Wednesday, citing people close to the matter.

The stablecoin issuer said Tuesday it and some of its shareholders will offer 24 million class A shares at a price of $24 to $26 apiece. Circle Internet Group also said it has applied to list its class A shares on the New York Stock Exchange under the "CRCL" ticker.

BlackRock ( BLK ) might acquire the stake via a vehicle or an affiliated entity or opt against a deal, the people reportedly said.

BlackRock ( BLK ) oversees a government money market fund on Circle's behalf that holds 90% of the reserves backing its USDC stablecoin as of March 31, according to a Securities and Exchange Commission filing from Tuesday.

BlackRock ( BLK ) declined to comment when contacted by MT Newswires while Circle didn't immediately respond to a request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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