Cryptocurrency exchange Gemini has significantly raised its ambitions for its initial public offering (IPO), now targeting a **$3.1 billion** valuation. Its latest filing with the U.S. Securities and Exchange Commission (SEC) reveals plans to raise up to $433 million, signaling robust market confidence in the digital asset sector.
The updated prospectus specifies a share price range of $24 to $26 per share, a notable increase from the earlier projected $17 to $19. This adjustment boosts Gemini’s potential capital raise from an initial $317 million to $433 million, solidifying a higher valuation. Gemini had confidentially filed its application with the SEC in June 2025, with its public submission following in August of the same year.
Gemini’s debut on the Nasdaq exchange is anticipated for Friday, September 12, 2025, trading under the ticker **GEMI**. This positions it as the third major U.S. crypto exchange to go public, following Coinbase and Bullish. The offering includes approximately 16.66 million shares, with an underwriter option that could increase total shares in circulation to 17.1 million. Notably, Nasdaq itself plans to acquire 2.1 million shares, underscoring strategic industry interest.
This aggressive IPO move aligns with a broader ‘IPO boom’ currently observed in the U.S. cryptocurrency sector, a trend spearheaded by the successful market entry of Circle, issuer of the USDC stablecoin. Kat Liu, Vice President of IPO research firm IPOX, told Reuters that potential easing of U.S. Federal Reserve policy could further encourage digital asset companies to pursue public listings. Liu’s analysis suggests a more accommodative monetary environment would likely stimulate more digital asset companies to seek public capital, reflecting evolving dynamics within the broader financial 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.