On its first day on the stock market, the Gemini cryptocurrency exchange posted an increase of more than 63%. Let’s take a closer look at this new listing.
Gemini finally goes public
On Friday, the Gemini cryptocurrency exchange went public, three months after the first official information about its initial public offering (IPO) project.
While the company capped the amount raised during this IPO at $425 million, 16.7 million shares were planned for sale, and Bloomberg reports that 20% were allocated to retail investors, notably through brokers such as Robinhood, Webull, and SoFi Technologies.
With an initial sale price of $28, GEMI shares closed at $32.06 per share, an increase of 14.5%. At the peak of its first day on the Nasdaq, Gemini shares traded at $45.76, a latent increase of 63.44%:
According to Yahoo Finance data, the company is now valued at $3.8 billion. Despite its significance, this amount is still much lower than the $7.1 billion valuation Gemini received during a fundraising round in the fall of 2021.
This may reflect the cryptocurrency exchange’s performance in recent years. Last month, we noted that despite the use of a favorable accounting rule, Gemini recorded a loss of $282.47 million in the first half of 2025.
After Circle, Bullish, and Figure Technology Solutions, this is the fourth high-profile IPO of a crypto company in the United States this year. Like its competitor Coinbase, Gemini will now publish detailed financial reports each quarter, which will allow the health of the platform in this market to be assessed.
