Gemini had a remarkable debut on Wall Street on September 12, as its stock price surged over 50% in the initial hours of trading on the Nasdaq. The stock, trading under the symbol GEMI, opened at $28 per share and quickly rose in value. It briefly reached $40 before settling around $33 by midafternoon, giving Gemini a market capitalization of approximately $1.3 billion.
The closing price represented a 24% gain from its offering level. Gemini raised $425 million by selling 15.2 million shares, surpassing its initial price range of $17 to $19 per share. The exchange filed its registration statement with the Securities and Exchange Commission on September 2 and went public just 10 days later, indicating strong investor interest in digital assets.
While not the most active exchange, Gemini is known in the U.S. for its focus on compliance and security. Trading on its platform increased in the days leading up to the IPO. This debut adds to a series of successful crypto-related listings in 2025, including Circle’s launch on the New York Stock Exchange and Figure Technology Solutions’ IPO. These listings demonstrate renewed Wall Street interest in crypto equities, as investors seek exposure to digital asset companies amid market volatility.
