Gemini, the crypto exchange founded by Cameron and Tyler Winklevoss, has filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC).
The filing outlines plans for an initial public offering (IPO) of 16.67 million Class A common shares.
The IPO filing sets the share price range between $17 and $19. At this range, Gemini expects to raise up to $317 million. The company also targets a valuation of up to $2.22 billion.
Gemini plans to list its shares on the Nasdaq Global Select Market under the ticker symbol GEMI. The official filing was submitted on September 2, 2025, following an earlier SEC submission on August 16, 2025.
Underwriters for Gemini Shares IPO
The Gemini IPO will be managed by leading financial institutions. Goldman Sachs, Citigroup, Morgan Stanley, and Cantor are acting as lead bookrunners. These firms will organize the offering, allocate shares, and guide pricing.
Other underwriters include Evercore ISI, Mizuho, Truist Securities, Cohen & Company Capital Markets, Keefe, Bruyette & Woods (a Stifel company), Needham & Company, and Rosenblatt.
Additionally, Academy Securities, AmeriVet Securities, and Roberts & Ryan are serving as co-managers for the IPO.
According to the Gemini SEC filing, the underwriters hold a 30-day option to purchase up to 2,396,348 additional shares from Gemini and 103,652 shares from selling stockholders at the IPO price, excluding underwriting fees.
Gemini as an Emerging Growth Company
In its SEC filing, Gemini emphasized that it qualifies as an “emerging growth company” under the Securities Act of 1933. This designation allows companies to use reduced reporting requirements.
“As a result, we are permitted to, and intend to, rely on exemptions from certain disclosure requirements that are applicable to other companies that are not emerging growth companies,” Gemini stated in its Form S-1.
Because of this status, Gemini included only two years of audited financial statements rather than the standard three.
It also omitted a detailed executive compensation discussion. These exemptions are intended to ease entry for smaller or newly public firms.
Gemini IPO Timeline and Context
Before this public filing, Gemini submitted a confidential draft registration statement in June 2025.
Confidential submissions allow companies to prepare IPO filings without immediately disclosing detailed information to the market.
The confidential filing occurred just one day after Circle, issuer of the USDC stablecoin, began trading on the New York Stock Exchange on June 5, 2025. Circle’s listing marked a significant event in the expansion of crypto firms into public markets.
The Gemini IPO filing now places the exchange alongside other digital asset companies seeking to integrate more closely with traditional financial markets through public listings.
Disclosure:This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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Tatevik Avetisyan is an editor at Kriptoworld who covers emerging crypto trends, blockchain innovation, and altcoin developments. She is passionate about breaking down complex stories for a global audience and making digital finance more accessible.
📅 Published: August 4, 2025 • 🔄 Last updated: August 4, 2025
