(Reuters) -Gemini is seeking a valuation of up to $2.22 billion in its U.S. initial public offering, the cryptocurrency exchange said on Tuesday, as digital asset platforms capitalize on renewed investor appetite for public market debuts.
The New York-based company, founded by twins Cameron and Tyler Winklevoss in 2014, plans to sell 16.67 million shares at $17 to $19 each, raising as much as $317 million at the top of the range.
The IPO filing comes as U.S. public offering activity experiences a strong
resurgence, fueled by robust market conditions and impressive first-day trading performances that have whetted investor appetite and encouraged more private companies to go public.
Recent debutants, including digital bank Chime Financial and a space technology firm Firefly Aerospace, drew robust investor demand on their first day of trading.
Gemini's listing would make it the third publicly traded digital asset exchange, after Bullish - which had a blockbuster debut earlier this year - and Coinbase, the largest listed U.S. crypto exchange.
Digital assets have made steady inroads into mainstream finance, with U.S. regulators approving spot bitcoin ETFs last year and Coinbase joining the S&P 500 earlier in 2025.
The Winklevoss brothers rose to prominence after settling a 2008 legal dispute with Facebook and CEO Mark Zuckerberg.
The pair, dubbed the "bitcoin twins," earned the nickname after investing part of their Facebook settlement in bitcoin, making them among the world's first cryptocurrency billionaires.
Gemini expects to list on the Nasdaq Global Market under the ticker “GEMI.”
Goldman Sachs and Citigroup are lead bookrunners on the deal.
(Reporting by Pritam Biswas in Bengaluru; Editing by Mrigank Dhaniwala and Tasim Zahid)
