Cryptocurrency Exchange Gemini Set for Nasdaq Public Offering: A Push for Mainstream Adoption in the Cryptosphere

In a significant move for the crypto industry, Gemini, the cryptocurrency exchange founded by Cameron Winklevoss, is planning an Initial Public Offering (IPO) on Nasdaq with a targeted valuation of $2.22 billion.

The IPO, which aims to raise $317 million, will primarily be used for debt repayment and operational scaling to address liquidity constraints. This move reflects the growing confidence in the integration of digital assets into traditional finance, as it marks the third US crypto exchange to pursue a public listing.

Gemini's IPO price is set between $17 and $19 per share, implying a premium compared to peers such as Coinbase. This premium may be justified by the broader crypto bull cycle, driven by macroeconomic factors and the US Strategic Bitcoin Reserve, which is currently undergoing a significant shift with regulatory clarity, institutional adoption, and technological innovation.

The success of the IPO largely depends on market sentiment towards crypto. However, Gemini's strategic move is not just a fundraising exercise. It is a catalyst for the next growth phase of the sector, reflecting the broader trend towards institutionalization and regulatory normalization.

In recent years, Gemini has made significant strides in attracting institutional clients. Institutional trading volume on Gemini jumped 60% in the Second Quarter of 2025 to $21.5 billion, with institutional clients now accounting for 87% of total trading activity on the platform.

Gemini's institutional client base has grown rapidly, with over 10,000 institutions in 60 countries by 2025. One such institution is Ripple, which made a $75 million investment into Gemini, strengthening their collaboration and increasing the utility of Ripple's XRP in cross-border payments.

The IPO comes after the passage of the GENIUS Act in July 2025, which provides a clearer framework for stablecoins. Additionally, the US Securities and Exchange Commission has ruled that Ripple XRP is not a security in the secondary market, redefining institutional access to the asset.

Gemini has also secured a Markets in Crypto Assets (MiCA) license in Malta, allowing it to operate in 30 European Economic Area (EEA) countries. However, the article does not mention any new facts about Gemini operating in EEA countries or the impact of this license on its operations.

The IPO filing reveals a net loss of $282.5 million in the first half of 2025, a 580% increase from the same period in 2024, due to aggressive investments in compliance, product development, and global expansion. Despite this, the strategic move towards a Nasdaq listing is a testament to Gemini's commitment to cementing crypto's role in mainstream finance by leveraging regulatory clarity, institutional partnerships, and innovative products.

Cryptocurrency Exchange Gemini Set for Nasdaq Public Offering: A Push for Mainstream Adoption in the Cryptosphere