Nasdaq to Invest $50M in Gemini Amid IPO Plans

Gemini, the New York-based cryptocurrency exchange founded by the Winklevoss twins, Cameron and Tyler Winklevoss, has announced plans for an Initial Public Offering (IPO). According to Reuters, in a step towards the listing, it has secured Nasdaq, the world’s second-largest stock exchange, as a strategic investor.

Notably, Gemini is set to trade on the Nasdaq stock exchange on Friday, September 12, 2025, under the ticker symbol “GEMI.”

Nasdaq to Invest $50M in GEMI

Gemini aims to raise about $317 million in the IPO. To achieve its goal, the exchange has teamed up with Nasdaq to purchase $50 million worth of its GEMI in a private placement at the time of the initial offering. This move would enhance Gemini’s growth, enabling it to reach its target sooner.

Eminently, the investment would create a partnership with significant benefits for the duo. First, it will enable Nasdaq clients to access Gemini’s custody and staking services. Additionally, Gemini’s clients will enjoy Nasdaq’s Calypso platform. The platform has been designed for trade lifecycle management, risk management, and streamlining advanced trading operations across borders.

According to a recent filing with the U.S. Securities and Exchange Commission (SEC), the first half of 2025 was not profitable for Gemini. The exchange recorded a $282.5 million loss on revenue. Hence, the need for an IPO as the platform plans to tap into a global investor base.

Meanwhile, the forthcoming GEMI offering would make Gemini the world’s third publicly traded crypto platform to enter the S&P 500. This follows other exchanges like Coinbase and Bullish, which entered the list earlier this year.

Crypto Platforms Eye IPO

As crypto adoption grows to become widespread, many crypto firms have revealed plans for an IPO. This is in a quest for increased visibility and enhanced reputation. For instance, crypto exchange OKX recently relaunched into the U.S. market in April 2025 after a $500 million settlement with the U.S. Department of Justice. OKX is considering an IPO as it could “open the door to greater institutional trust and a broader investor base.”

Similarly, according to a May 2025 report, South Korean exchange Bithumb holds approximately 25% of the country’s crypto trading volume and plans to go public before the end of the year.