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The cryptocurrency exchange Gemini, founded by Cameron and Tyler Winklevoss, has made a strategic move ahead of its upcoming initial public offering (IPO). According to sources, Gemini secured Nasdaq as an investor, strengthening its plans for a listing in New York.
Nasdaq to Participate as a Private Investor in IPO
Gemini is expected to raise up to $317 million in its IPO. Under the strategic agreement, Nasdaq has committed to purchase $50 million worth of shares during the offering. Sources indicate that this investment is part of a partnership enabling Nasdaq clients to access Gemini’s custody and staking services. Additionally, Gemini’s institutional clients will be able to manage trading collateral through Nasdaq’s Calypso platform.
IPO Date and Market Conditions
Gemini plans to start trading on Nasdaq under the ticker “GEMI” on September 9, 2025. However, sources emphasize that IPO plans are subject to market conditions. This IPO coincides with a period when U.S. equity markets are showing strong demand for new listings.
Recent strong first-day performances from companies like Figma and Firefly Aerospace have increased investor interest. Among digital asset companies, Circle and Bullish have also drawn attention with notable IPOs.
Gemini’s Market Position and Financial Status
Gemini will become the third publicly traded crypto exchange after Bullish and Coinbase, and the first crypto exchange included in the S&P 500. According to data provider Kaiko, Gemini ranks among the largest crypto platforms in the U.S. by trading volume.
The exchange offers over-the-counter trading, U.S. credit card integration, and a broad digital asset portfolio including Bitcoin, Ether, and stablecoins. It serves both retail and institutional investors, generating most of its revenue from trading fees.
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