Company: CRCL
Filing Date: 2025-08-12
Form Type: S-1
Source: 0001193125-25-178989
Chunk: 464

Company: Circle Internet Group, Inc.
Filing Date: 2025-08-12
Form: S-1
Chunk 464
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   |     | Period from    
 11/03/22(a) to 
 04/30/23       |                 |   |
| Fund Name/Share Class |     | Shares     |                |   |     | Shares         |                 |   |
| Circle Reserve Fund   |     |            |                |   |     |                |                 |   |
| Institutional         |     |            |                |   |     |                |                 |   |
| Shares sold           |     |            | 10,300,000,000 |   |     |                |  35,837,009,000 |   |
| Shares redeemed       |     |            | (5,700,000,000 | ) |     |                | (10,450,000,000 | ) |
|                       |     |            |  4,600,000,000 |   |     |                |  25,387,009,000 |   |

| (a) | Commencement of operations. |

**9. Subsequent events Management has evaluated the impact of all subsequent events on the Fund through the date the financial statements were issued and has determined that there were no subsequent events requiring adjustment or additional disclosure in the financial statements. F-109

Report of Independent Registered Public Accounting Firm

To the Shareholders of Circle Reserve Fund and the Board of Trustees of BlackRock Funds:**

### Opinion on the Financial Statements and Financial Highlights
We have audited the accompanying statement of assets and liabilities of Circle Reserve Fund of BlackRock Funds (the “Fund”), including the schedule of investments, as of April 30, 2023, the related statements of operations, changes in net assets, and the financial highlights for the period from November 3, 2022 (commencement of operations) through April 30, 2023, and the related notes. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of April 30, 2023, and the results of its operations, the changes in its net assets, and the financial highlights for the period from November 3, 2022 (commencement of operations) through April 30, 2023, in conformity with accounting principles generally accepted in the United States of America.

#### Basis for Opinion
These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial