Gemini's IPO showcased record interest from investors, indicating growing confidence in regulated crypto offerings.
Unusual Demand for Shares
Gemini's IPO was oversubscribed by more than 20 times, driving the price to $28 per share. This allowed the company to raise about $425 million, despite an initial target range of $17 to $19. After increasing the target price earlier in the week, the final pricing stood at $28 per share, valuing the company at $3.33 billion.
Crypto IPOs Redefining the Market
The success of Gemini's IPO follows a series of successful blockchain listings in 2025. For instance, Figure Technologies, launched on the same day, saw shares rise by 24%. The results of Gemini's IPO sharply contrast with previous years when crypto listings often fell short of expectations.
Sector Moving Mainstream
The shift in focus towards crypto IPOs has been fueled by eased oversight from the SEC and record-high digital asset prices. Despite concerns about stability, Gemini made a disciplined choice to cap its proceeds. This highlights that crypto exchanges are now central actors shaping the future of public markets.
Gemini's IPO marks a pivotal moment in the perception of crypto stocks and reinforces growing interest in the mainstream financial sector.
