Gemini, the New York-based cryptocurrency exchange founded by Cameron and Tyler Winklevoss, has raised $425 million in its long-awaited initial public offering (IPO), capping one of the strongest debuts for a digital asset platform in recent years.
The IPO, listed under the name Gemini Space Station Inc., was priced at $28 per share, which was higher than the initial guidance of $24 to $26 and showed strong investor demand.
Sponsored
According to reports from Bloomberg, the sale of 15.2 million shares was more than 20 times oversubscribed, forcing bankers to halt new orders.
At the final price, Gemini reached a market value of just over $3 billion. Nasdaq agreed to buy $50 million of shares in a private placement at the IPO price, and up to 30% of the offering was reserved for retail investors through platforms like Robinhood, SoFi, and Webull.
Despite going public, the Winklevoss twins retain 94.5% of voting power, a rare structure that maximizes fundraising while preserving control of the exchange.
Gemini shares are set to begin trading today under the ticker symbol GEMI.
Crypto Infrastructure in Public Markets
Gemini’s IPO joins a small but growing group of crypto-focused companies offering public-market exposure without requiring investors to hold digital tokens directly.
Platforms such as Coinbase and Robinhood have previously paved the way, providing regulated avenues for both retail and institutional investors to participate in crypto markets through equity.
In 2025 alone, one of the largest stablecoin issuers, Circle, completed its IPO, raising $1.1 billion and reaching a valuation of $6.9 billion. Galaxy Digital, a diversified crypto financial services firm, also went public earlier this year.
Why This Matters
Gemini’s IPO shows that traditional investors prefer regulated crypto infrastructure stocks over direct token exposure, signaling growing confidence in the industry’s maturity.
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People Also Ask:
The Gemini IPO refers to the initial public offering of Gemini Space Station Inc., the cryptocurrency exchange founded by Cameron and Tyler Winklevoss. The company raised $425 million in its public debut.
The founders, Cameron and Tyler Winklevoss, retain majority voting power, keeping control of the company while it is publicly traded.
It shows strong demand for crypto infrastructure companies and provides a regulated way for investors to gain exposure to the crypto market.
Shares began trading under the ticker GEMI shortly after the IPO.
