According to the latest information released by Circle, as of 3/14, there are 30.5 billion USDC in circulation, supported by 30.7 billion US dollars in reserve assets. Among them, 4.1 billion US dollars are cash held in banks, and 26.6 billion US dollars are held in the Circle Reserve Fund. The Circle Reserve Fund is a dedicated fund registered with the U.S. Securities and Exchange Commission (SEC) by BlackRock Advisors, LLC, a subsidiary of BlackRock, and is exclusive to Circle. Its investment portfolio includes short-term U.S. Treasury bonds, U.S. Treasury Repurchase Agreements, and cash. The custodian bank is The Bank of New York Mellon. According to the attestation report issued by Deloitte in February, as much as 56% of the reserve assets are in the form of repurchase agreements.
USDC Market Cap Soars Back to $30 Billion, Majority of Reserves Managed by BlackRock, Circle IPO in the Works