Gemini Raises IPO Price Range to $24–$26, Eyes $3.1B Valuation Ahead of Nasdaq Debut
Eyes are fixed on the market as many financial firms warm up to go public on Wall Street this week. Among these potential debutants, American crypto exchange Gemini has increased its share price ahead of its initial public offering (IPO) scheduled for Friday.
In brief
- Gemini raises IPO price range from $17–$19 to $24–$26, setting its sights on a $3.1B valuation.
- Nasdaq to invest $50M in Gemini shares through a private deal ahead of the public launch.
- Goldman Sachs, Citigroup, Morgan Stanley, and Cantor lead underwriting for the IPO.
- Under Trump’s pro-crypto stance, Gemini joins Coinbase in taking digital assets to Wall Street.
Winklevoss-Led Gemini Positions Itself as a ‘Crypto Super App’ in IPO Filing
Gemini revealed that it has boosted the price range for its upcoming IPO from $17-$19 to $24-$26 per share, in a Tuesday S1 filing. The crypto firm—led by the Winklevoss billionaire brothers—now expects to sell 16.67 million shares, which would push its valuation to about $3.1 billion.
In a statement attached to the filing, the brothers explained that the financial world is transitioning to on-chain, and digital assets are shaping transactions in several ways. With this in mind, Gemini is actively innovating to contribute to an inclusive financial future.
Financial markets are moving on-chain, and digital assets are profoundly changing the way we transact and store value. This is the crypto frontier, and we are building a super app for it. We believe Gemini is uniquely positioned to contribute to this future and ensure that you are a part of it.
Gemini founders Tyler and Cameron Winklevoss
Goldman Sachs, Citigroup, Morgan Stanley, and Cantor are tasked with leading underwriting for the upcoming public launch. Meanwhile, stock exchange giant Nasdaq has a deal to purchase $50 million of shares at the IPO price in a private deal. Gemini’s stock is set to debut on the Nasdaq Global Select Market under the ticker GEMI.
Crypto IPO Boom Accelerates Under Trump’s Pro-Crypto Policies
Under President Donald Trump’s pro-crypto administration, several crypto firms have stepped up efforts to expand beyond the U.S. shores, including going public. Gemini’s latest move further reinforces this narrative and indicates that crypto firms increasingly seek legitimacy through public markets.
Gemini’s Nasdaq debut would follow in the footsteps of Coinbase as another high-profile Nasdaq listing, effectively bringing the crypto sector to the doorstep of institutional investors.
Similar to Gemini, Circle also increased its IPO price from $24 to $31 as demand surged after it went public. Upon its public debut, CRCL shares were paused multiple times as the value more than tripled on its first trading day.
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James Godstime is a crypto journalist and market analyst with over three years of experience in crypto, Web3, and finance. He simplifies complex and technical ideas to engage readers. Outside of work, he enjoys football and tennis, which he follows passionately.
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.