Gemini Space Station, Inc. is poised for a significant public debut on the Nasdaq, marking a significant milestone for the cryptocurrency sector’s integration into traditional financial markets. The digital asset exchange has finalized its initial public offering (IPO) share price at $28, following several upward revisions. This valuation positions Gemini at over $3 billion, with the company aiming to raise $425 million through the offering, while co-founders Tyler and Cameron Winklevoss will retain a substantial majority stake.
The $28 per share price reflects strong investor interest. Initially, Gemini set its IPO price target between $17 and $19, then raising it to a $24-$26 range before settling at $28. This progressive increase underscores robust demand for the company’s shares as it prepares to list on the Nasdaq Global Select Market.
The offering will consist of 15,178,572 shares, with an additional 758,929 shares reserved to cover a 30-day over-allotment option. Goldman Sachs & Co. LLC, Citigroup, Morgan Stanley, and Cantor are serving as the joint bookrunners for the transaction. Trading is scheduled to commence on September 12, 2025, under the ticker symbol GEMI.
Following the IPO, the Winklevoss twins are expected to maintain approximately 94.5% ownership of Gemini, solidifying their control over its strategic direction. To broaden investor participation, the company has allocated up to 10% of the securities for insiders and loyal platform users, and up to 30% for retail investors via platforms such as Robinhood, SoFi, and Webull. This approach aims to foster a diverse shareholder base and engage its community.
A minor political subplot precedes the IPO, as Brian Quintenz, a candidate for the Commodity Futures Trading Commission (CFTC), previously accused one of the Winklevoss brothers of impeding his appointment. While a notable detail, this is not expected to significantly detract from the financial market’s reception of Gemini’s public offering, which represents the continued maturation of the cryptocurrency ecosystem within global capital markets.
Blockchain developer and writer, Daniel combines hands-on coding experience with accessible storytelling. He holds multiple blockchain certifications and authors technical explainers, protocol deep-dives, and developer tutorials to help readers navigate the intersection of code and finance.