Circle, the company behind the USDC stablecoin, is raising its IPO share count and price range as investor appetite intensifies ahead of its market debut. The latest SEC filing reveals that Circle now plans to sell up to 32 million shares priced between $27 and $28, up from the initial 24 million shares at $24 to $26 per share announced last May. This adjustment suggests robust investor confidence and accelerating demand for Circle’s equity.

Major institutional investors are showing keen interest in the offering. Notably, BlackRock, the world’s largest asset manager, is reportedly considering purchasing up to 10% of Circle’s IPO shares. Cathie Wood’s Ark Invest has also indicated plans to acquire $150 million worth of stock, highlighting significant support from influential market players.

Circle’s IPO comes amid a growing recognition of stablecoins as a critical component of the cryptocurrency ecosystem. No longer just trading tools, stablecoins like USDC are now widely used in decentralized finance (DeFi), cross-border payments, and traditional financial infrastructures.

Currently, the stablecoin market capitalization stands near $248 billion, with Tether’s USDT holding 62% of the market at $154 billion, followed by Circle’s USDC at $60 billion, according to DeFiLlama data.