BlackRock Plans to Acquire 10% of Circle IPO Shares

Circle IPO Valuation

is currently $6.7Billion and BlackRock has declared they intend to acquire 10% of IPO shares.

Well, there goes my 10% accumulation plan. LOL!

Circle is offering 9.6Million shares in their offering. Additionally, current private share holders such as Accel and General Catalyst will be selling 14.4 million shares of their holdings to capture some of the IPO price apprecation.

Who Else is expected to buy a massive chunk of Circle IPO?

Cathie Wood's ARK set to buy up to $150 million of shares in IPO. Cathie is famous for her work in the SPAC space. Recall, Circle tried the IPO route via SPACs a couple of years ago and market conditions did not allow that to come to fruition.  BlackRock competitor Goldman Sachs has provided future guidance for the stablecoin market growing to somewhere $500 and $750 Billion over the next few years.

Where will Circle be Listed?

Circle will be listed under the ticker CRCL on NYSE

In other Crypto news DOGE ETF Filing

21Shares filed S-1 form for spot Dogecoin (DOGE) ETF, this filing came on the same day that 21Shares Dogecoin ETP started trading on the Swiss SIX Exchange via their partnership with House of Doge.   ETF will be available on the NASDAQ once the US SEC approves the application.

What is the House of Doge?

It is a newly formed corporate arm of the Dogecoin Foundation focused on making Dogecoin ($DOGE - Doing Only Good Everyday) a widely accepted, decentralized currency for everyday transactions. Their main belief is built around Dogecoin's speed and efficiency. And that it will become the ideal solution for the modern financial ecosystem. 

Summary

Circle is going to IPO this year and BlackRock is going to sweep up 10% of shares while insiders sell to profit from their risk investment years back.  21Shares is seeking a US DOGE ETF that could potentially be made available on the NASDAQ once the SEC approval is granted.  Even with choppy market action its still exciting everyday in Crypto!

Credit - Blog Image from Forex.com = ALL RIGHTS REMAIN!