BlackRock considering taking 10% stake in Circle IPO

BlackRock, the world's largest asset manager, has invested 10% in Circle, the stablecoin issuer, in its IPO.
On the 28th (local time), Bloomberg reportedly cited unnamed sources as saying that BlackRock would buy about 10% of Circle's IPO shares.
Circle plans to raise a total of $624 million through the IPO. Cathie Wood
ARK Invest, led by John Wood, also said it plans to invest $150 million in the IPO.
Circle launched a public offering of 24 million Class A common shares on May 27. The offering includes not only the company's newly issued shares, but also the investment of co-founder and CEO Jeremy Arnold.
The offering also includes some shares from existing shareholders, including Rare (Jeremy Allaire).Circle's public offering is currently reported to be several times oversubscribed.
Circle filed an IPO application with the U.S. Securities and Exchange Commission (SEC) on April 1, but later postponed the schedule, citing macroeconomic uncertainty.
There have been reports that Ripple and Coinbase are considering acquiring Circle, but the company has denied the rumors, saying that "Circle is not for sale."
As of May 28, the market capitalization of Circle-issued USDC was $60.9 billion, accounting for 24.6% of the total stablecoin market, second only to Tether (USDT).
It is a very large scale.