Gemini shares rise 64% in IPO debut

Gemini shares rise 64% in IPO debut

Gemini, the cryptocurrency exchange founded by the Winklevoss twins, saw its shares soar 64% in its initial public offering (IPO) debut on Friday, September 12, 2025. The company's stock, trading under the ticker "GEMI," opened at $28 per share, significantly above the initially projected range of $17 to $19 per share. This strong performance is a testament to investor enthusiasm in the crypto and fintech sectors.

Gemini's IPO raised just over $425 million by offering 15.178 million shares at $28 each. The company's valuation is now around $3.3 billion, based on the 118,783,069 outstanding shares previously disclosed . The increased share price was driven by higher-than-expected demand for Gemini shares, leading to a price cap limit of $425 million.

Gemini's IPO marks the third U.S.-listed crypto exchange, following Coinbase and Bullish. The company has been actively expanding its services, including a Gemini Credit Card that offers cryptocurrency rewards for spending. Gemini's operational synergies with Nasdaq, which invested $50 million through a private placement, are expected to further enhance the platform's offerings for institutional users.

Despite the strong IPO performance, Gemini's shares have seen mixed fortunes in the weeks following its listing. While some high-profile tech IPOs, such as eToro and Bullish, have seen their shares decline post-listing, Gemini's shares have shown resilience. As of the market close on September 12, Gemini's shares were up 64% from their IPO debut, reflecting investor confidence in the company's growth prospects.

Gemini's IPO success underscores the growing interest in the crypto and fintech sectors. The company's strategic partnership with Nasdaq and its expanding services indicate a commitment to innovation and growth. However, the crypto market remains volatile, and investors should monitor Gemini's performance closely in the coming months.