Hit the iron while it's hot! Gemini (GEMI.US) IPO valuation targets $2.2 billion as crypto company listing wave hits

The Zhitong Finance App learned that cryptocurrency trading platform Gemini said on Tuesday that the company is seeking a valuation of up to $2.22 billion in a US initial public offering (IPO). As investors' enthusiasm for IPOs soared again, various digital asset platforms took the opportunity to go public. Gemini plans to issue 16.67 million shares at a price of 17 to 19 US dollars each, raising up to 317 million US dollars.

The New York-based company was founded in 2014 by twin brothers Cameron and Tyler Winklevoss. Gemini plans to be listed on the NASDAQ under the ticker symbol “GEMI.” Goldman Sachs and Citigroup were the lead underwriters for the deal.

The deal coincided with a strong recovery in US IPO activity. The strong market environment and the outstanding performance of new shares on the first day stimulated investors' interest and prompted more private companies to choose to go public.

Recently listed companies, including digital bank Chime Financial (CHYM.US) and space technology company Firefly Aerospace (FLY.US), attracted strong investor demand on the first day of the deal.

Gemini's listing will make it the third publicly traded digital asset exchange after Coinbase (COIN.US) and Bullish (BLSH.US).

“After the successful IPOs of Circle (CRCL.US) and Bullish, combined with a strong overall market and rising cryptocurrency prices, now is indeed a good time for crypto-related companies to consider going public,” said Bo Pei, an analyst at Tiger Securities.

Digital assets have steadily entered the mainstream financial sector. US regulators approved spot Bitcoin ETFs last year, and Coinbase was included in the S&P 500 index in early 2025.