Gemini Prices IPO at $28 a Share Ahead of Trading Open on Nasdaq
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One of the most closely watched debuts in the crypto sector this year, Gemini's IPO highlights Washington’s shifted stance on digital assets
Gemini, the crypto exchange founded by Tyler and Cameron Winklevoss, has priced its initial public offering at $28 per share, surpassing expectations ahead of trading on Nasdaq under the ticker GEMI. The IPO raised about $425 million, valuing the company at roughly $3.3 billion, and was oversubscribed by more than 20×, reflecting strong demand.
The offering consists of 15.2 million shares, and the company also granted underwriters a 30-day over-allotment option. Notably, this pricing came in above an earlier projected range of $17-$19, and then above another range of $24-$26. Despite notable losses in recent periods, the pricing and investor interest suggest confidence in Gemini’s growth potential.
As Gemini enters the public markets, key risks include regulatory pressure, competitive dynamics, and its ability to translate trading volume and user growth into profitability. But its strong IPO performance signals renewed investor appetite for crypto-related listings and may set a tone for future offerings in the digital asset sector.

