TLDR
- Gemini surges 14% on IPO debut, raising $425M despite mounting losses.
- Gemini IPO pops 32% at open, closes strong with Nasdaq backing.
- Winklevoss-led Gemini raises $425M, closes 14% higher on Nasdaq debut.
- Gemini stock closes $32, topping IPO, fueled by Nasdaq partnership.
- Crypto firm Gemini soars on IPO, securing $425M and Nasdaq support.
Gemini Space Station, Inc. surged on its market debut, closing at $32.00 after opening trading on Nasdaq. The price reflected a 14.29% increase from its IPO offering of $28.00 per share. In extended trading, the stock gained another 1.25%, signaling strong momentum.
Gemini Space Station, Inc.(GEMI)
IPO Launch Surpasses Expectations
Gemini priced its IPO at $28, exceeding the expected range of $24 to $26, and initial estimates of $17 to $19. The pricing valued the company at approximately $3.3 billion before its first trade hit the market. By selling 15.2 million shares, Gemini raised $425 million in capital.
The stock opened at $37.01, jumping 32% from its IPO price, and hit a session high of $45.89. However, it settled at $32.00 by the market close, locking in a 14.29% gain for the day. Market sentiment remained optimistic, as the after-hours trading showed continued buying interest.
Gemini’s IPO received a notable boost from Nasdaq, which invested $50 million as part of a strategic partnership. The deal aims to expand institutional access to Gemini’s crypto custody products and infrastructure. Gemini will become a distribution partner for Nasdaq’s trade management platform, Calypso.
Company Performance and Product Ecosystem
Despite mounting losses, Gemini moved forward with the IPO amid increasing institutional interest in regulated crypto platforms. The firm posted a net loss of $283 million in the first half of 2025. In 2024, the company had already recorded a full-year net loss of $159 million.
Gemini maintains a diverse revenue model spanning spot trading, custodial services, and crypto-enabled financial products. As of July’s end, Gemini reported more than $21 billion in customer assets on its platform. The company also offers a U.S. dollar-backed stablecoin and a crypto rewards credit card.
Founded in 2014 by Tyler and Cameron Winklevoss, Gemini has positioned itself as a compliance-focused crypto exchange. It aims to provide a secure bridge between traditional finance and digital assets. The co-founders have long advocated for clear regulatory frameworks to support crypto adoption.
Bitcoin, Institutional Focus and Future Prospects
The Winklevoss twins continue to promote Bitcoin as a long-term store of value over traditional assets like gold. They believe Bitcoin’s market potential remains untapped mainly and foresee tenfold growth in its valuation over the next decade. Their early advocacy helped shape policy discussions around crypto ETFs and regulatory reform.
In 2013, the pair submitted the first-ever application to the SEC for a Bitcoin ETF. Although initially rejected due to market manipulation risks, that move laid the foundation for future regulatory evolution. Today, Bitcoin ETFs are active and gaining acceptance among large institutions.
Gemini’s IPO debut reflects growing interest in regulated crypto firms that blend innovation with institutional-grade services. With a strong capital raise, strategic partnerships, and evolving infrastructure, the company seeks to scale its footprint in the global digital asset market.
