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- Gemini’s IPO raises $425M, marking a major crypto milestone.
- Nasdaq invests $50M in Gemini, signaling strong market confidence.
- Overwhelming IPO demand highlights rising institutional interest in crypto.
Gemini, the cryptocurrency exchange founded by Tyler and Cameron Winklevoss, has made a powerful entry into the Nasdaq Global Select Market, debuting under the ticker GEMI. The exchange’s first public offering (IPO) was $28 per share, raising $425 million and leading to a valuation of $3.3 billion. This is an important milestone in the digital asset sector, and Gemini is leading the trend of crypto firms entering formal financial markets.
The IPO attracted massive attention, with the 15.2 million shares on offer being oversubscribed over 20 times. This boom in demand indicates an institutional thirst for crypto exchanges, which signals a wider-scale acceptance of digital asset firms in the mainstream markets. Recent IPOs, including Bullish and Figure Technology, followed those trends, which once again speaks of the growing mainstream popularity of the crypto industry.
During the IPO, Nasdaq invested an unprecedented $50M in Gemini. This investment indicates that Nasdaq believes in the company’s long-term success and offers a strategic partnership that will feature services such as custody, staking, and collateral management using Nasdaq’s Calypso platform. By being compatible with the existing financial infrastructure, Gemini is solidifying and facilitating the transition of traditional finance and digital assets into one another.
Also Read: Gemini Soars with $3B IPO Valuation: Nasdaq Partnership Boosts Crypto Future!
Gemini also revised its initial price range (IPO) before the launch, raising it to $24-$26 per share instead of $17-$19 per share due to high investor interest. The company had set a target of 16.67 million shares or higher on top of this new issue, which may raise as much as $433.3 million. After the IPO, Gemini is currently valued at approximately $3.09 billion in the market, and has 118.8 million outstanding shares.
Crypto IPOs on the Rise as Gemini Paves the Way
The launch of Gemini is among the rising trends of IPOs in the crypto field in 2025. Firms such as Bullish, Circle, and Figure Technology have already become publicly traded, which indicates that institutional interest in digital assets is increasingly shifting. Because crypto ETFs have become more popular and regulators are becoming more friendly, the digital asset company market keeps growing.
Gemini has been successful in its IPO but has had its fair share of lawsuits, with one SEC lawsuit concerning its former Earn program. This continuing litigation would affect the company’s stock price in the short run. Still, the high demand for its shares and Nasdaq’s investment indicated investors’ confidence in Gemini’s future.
The successful Nasdaq listing of Gemini is a significant milestone in the history of the exchange and the digital asset industry overall. It is also another step towards integrating crypto into the traditional finance system.
Also Read: Hong Kong Eases Crypto Rules for Banks, Aiming to Become Global Crypto Hub!
