Gemini IPO Valuation Tops $3B, Aims to Raise $433M
Gemini IPO has raised its price range to $24–26 per share, boosting its valuation to over $3 billion and targeting $433 million in proceeds by selling 16.67 million GEMI shares. Underwritten by Goldman Sachs, Cantor Fitzgerald and Morgan Stanley, the Gemini IPO reserves around 10% of shares for designated investors. Trading on Nasdaq is set to begin upon SEC approval. Simultaneously, Gemini is expanding in Europe under Malta’s regulatory framework and MiFID II rules, introducing staking and derivatives services to tap a 400 million-investor market. The strong demand underscores confidence in crypto exchange listings and signals growing mainstream acceptance.
Neutral
The revised Gemini IPO indicates robust investor demand for crypto exchange equities but involves share listings rather than specific cryptocurrency tokens. Short-term, strong IPO interest may lift sentiment in crypto-related stocks; long-term, Gemini’s European expansion into staking and derivatives could foster broader adoption. Since no direct cryptocurrency token is traded, the immediate price impact on crypto markets is expected to be neutral.