Gemini Space Station, the cryptocurrency exchange founded by Cameron and Tyler Winklevoss, made its highly anticipated public debut. The company priced its initial public offering (IPO) at $28 per share, moving past the expected range of $24 to $26. The IPO is to begin trading on the Nasdaq under the ticker symbol GEMI on September 12, 2025 .
The deal is already oversubscribed by more than 20 times, with investors clamoring for a piece of the action. The company sold 15.1 million Class A shares, successfully raising $425 million—money that will likely fuel Gemini’s continued growth and expansion. The official closing of the offering is set for September 15, 2025.
According to a press release, Gemini and the selling stockholders intend to grant the underwriters a 30-day option to purchase up to an additional 300,565 and 458,364 shares of Class A common stock, respectively, to cover over-allotments. Gemini will not receive any proceeds from any sale of shares by the selling stockholders.
Goldman Sachs & Co. LLC, Citigroup, Morgan Stanley and Cantor are acting as lead bookrunners. While Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods, A Stifel Company, Needham & Company, and Rosenblatt are acting as bookrunners. Academy Securities, AmeriVet Securities, and Roberts & Ryan are acting as co-managers.
A new chapter for crypto on Wall Street
Traditional financial players are not only accepting but actively investing in crypto ventures which is a powerful sign of the times. This was made even more evident by Nasdaq’s $50 million private placement investment in Gemini, a clear endorsement from one of the world’s leading stock exchanges.
While the IPO’s prospectus showed a net loss for the company, the overwhelming demand suggests that investors are looking beyond short-term financials. They’re betting on the future of cryptocurrency and Gemini’s position as a well-regulated, secure, and user-friendly platform in a rapidly evolving market.
Also Read: Gemini Sets $425 Million Cap After IPO Oversubscribed 20 Times
