Gemini made a strong entrance on Wall Street on Sept. 12, with its stock price surging over 50% within the intial hours of their first day of trading on the Nasdaq.
The stock, listed under the symbol GEMI, opened at $28 per share and quickly advanced in the opening hours.
Prices briefly touched $40 before settling near $33 by midafternoon, leaving Gemini with a market capitalization of roughly $1.3 billion, according to Yahoo Finance.
The closing price represented a gain of about 24% from its offering level.
Strong debut
Gemini raised approximately $425 million by selling 15.2 million shares. The final offer price exceeded both its original range of $17 to $19 per share and a later revision that set expectations between $24 and $26.
Following a few weeks of rumors, the exchange filed its registration statement with the Securities and Exchange Commission on Sept. 2 and reached the public market just 10 days later, reflecting investor demand for digital asset exposure.
While not among the largest exchanges by trading activity, Gemini has built a reputation in the U.S. for emphasizing compliance and security. Trading on its platform accelerated in the days before the IPO.
Wave of crypto listings
The debut adds to a string of successful crypto-linked listings in 2025. Stablecoin operator Circle launched on the New York Stock Exchange earlier this year, with shares climbing from a $31 debut price to above $60, valuing the firm at more than $33 billion.
Blockchain financial firm Figure Technology Solutions also completed its IPO this week, notching a 24% first-day jump followed by additional gains.
Taken together, the listings highlight a resurgence of Wall Street interest in digital-asset equities, with investors seeking exposure to crypto companies after years of market volatility.