Crypto exchange Gemini is preparing for a significant entry into traditional financial markets with its IPO scheduled for later this week.
According to reports, the cryptocurrency exchange, owned by the Winklevoss brothers Tyler and Cameron, is preparing to list in New York this week.
Nasdaq to Invest $50M in Gemini
Two sources with direct knowledge of the development disclosed that Gemini has already secured Nasdaq as a strategic investor in anticipation of the listing.
The sources claimed Nasdaq committed to invest $50 million in shares through a private placement at the time of the IPO. This commitment could lift Gemini’s IPO proceeds to as much as $317 million.
.@Gemini, the exchange founded by the Winklevoss twins, is moving forward with a New York listing this week.
According to reports, Nasdaq will join as a strategic investor, committing $50M in a private placement as part of the IPO. pic.twitter.com/ndl2uvcuFG
— Satoshi Club (@esatoshiclub) September 9, 2025
Nasdaq’s role in the deal goes beyond a financial investment. Its clients will gain access to Gemini’s staking and custody services, while Gemini users will benefit from Nasdaq’s Calypso platform, which enables firms to manage and track trading collateral.
Gemini to List in New York
The disclosure comes as Gemini prepares to list in New York on Friday. Roughly 16.66 million of its shares are expected to list on Nasdaq under the ticker symbol GEMI.
The move comes amid a rebound in U.S. equity capital markets, where investor demand for new listings has surged. This is reflected in the remarkable first-day performances from recent IPOs, including Firefly Aerospace and Figma.
Notably, crypto-related businesses, including Bullish exchange and USDC stablecoin issuer Circle, have also gone public in recent months. If successful, Gemini would be the third publicly traded crypto exchange in the U.S., ranking behind Bullish and Coinbase.
Launched in 2015, Gemini has gained immense popularity in the crypto market. It ranks among the largest U.S.-based crypto exchanges, boasting a lifetime volume of $285 billion. Currently, Gemini ranks as the 24th largest crypto exchange globally, with a daily trading volume of $201.91 million.
The exchange currently holds $21 billion in assets under custody and offers services ranging from OTC trading to a crypto credit card.
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